LONDON — A London currency trader who hit the headlines for spending £125,000 ($198,000) on a single bottle of Champagne was arrested by financial regulators.
Alex Hope, 23, who promotes himself as a foreign-exchange expert, was held over a suspected unauthorized foreign-exchange scheme.
Hope, who lives in east London’s Docklands, gained significant publicity last month after he apparently splashed £200,000 on drinks at a nightclub in Liverpool, northwestern England.
The bar bill included £125,000 for a Nebuchadnezzar bottle of Armand de Brignac Champagne.
Hope created his own YouTube showreel, in which he tells the camera, “You don’t see a lot of people my age in [London financial district] the City doing what I do. And I feel I have got a lot of good opinions of the markets, as well, which you don’t hear from people my age.”
On the video, he describes himself as “definitely ambitious,” adding, “My goal isn’t just to make a lot of money for myself and set up a business but to also create jobs for others.”
He claimed he discovered his interest in currency trading while still a teenager and working at Wembley soccer stadium.
The Financial Services Authority (FSA) said it searched an address in east London on Tuesday, assisted by the City of London Police, and arrested a man on suspicion of offenses under the Financial Services and Markets Act 2000 and the Fraud Act 2006.
“No one has been charged at this stage in connection with the FSA’s investigation, which is ongoing. No further details can be confirmed at this time. The arrest is not linked to any other FSA investigations,” a statement from the FSA said.Â
A message on Hope’s website, alexhopefx.com, says it has been suspended.
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