Disgraced planner Alex Hope is already serving seven years for fraud and had 600 days added to his prison time for repaying only £1000 of a £166,696 proceeds of crime order. On Wednesday, he pleaded guilty to a charge of perverting the course of justice.
The fresh charge relates to his conduct following a restraint order in 2012 and a confiscation order in 2016, arising from criminal proceedings brought by UK regulator the Financial Conduct Authority (FCA).
Hope has been remanded in custody until Thursday 15 March 2018, when it is anticipated that a date for sentencing will be set.
The original fraud
In 2015, Hope was convicted of defrauding more than 100 investors out of £5.5m using the investment scheme.
He had promised to generate substantial returns by his trading on the foreign exchange markets. In reality, only 12% of the total sum investors gave was ever traded and when Hope did trade, he lost almost all of the money.
Hope had spent £1m in a casino, over £200,000 on designer watches and shoes, £60,000 on travel, and over £600,000 in bars and nightclubs in London, Miami, and New York.
“The FCA will continue to make sure wrongdoers do not profit from their crimes at the expense of victims. Confiscation orders cannot be ignored and will be enforced,” said Mark Steward, director of enforcement and market oversight.
Even after having served the sentence in default of payment, Hope will continue to be liable for the outstanding debt, the FCA said.
