25 Year Old Who Spent Six-Figures On Single Bottle Of Champagne Going Away For A While


Attention, UK nightclub owners: put your bottle of bubbly on ice. Alex Pope, the Brit whose spending habits raised suspicion several years back, which turned out to be funded by scamming investors, will want that shit chilled when he springs out of the joint seven years hence.

The Financial Conduct Authority of Britain said that the trader, Alex Hope, promised large returns for investors from foreign exchange trading from March 2011 to April 2012 but suffered heavy losses and spent more than £2 million on himself. Mr. Hope was convicted of a single count of fraud in London this month after pleading guilty in April 2014 to operating a collective investment scheme without authorization. “Alex Hope presented himself as a trader with a flair for trading on the foreign exchange markets when in reality he spent a good deal of his investors’ money on himself,” Georgina Philippou, the F.C.A. acting director of enforcement and market oversight, said in a statement on Friday. The Daily Mirror, a tabloid newspaper, reported in 2012 that Mr. Hope spent more than £200,000 on Champagne during a night out in Liverpool, including £125,000 on a single bottle.

Former London Trader Sentenced to Seven Years in Investment Scheme [Dealbook]


Allen Stanford Puts On Unusually Brave Face While Hearing Verdict Of Guilt

April 7, 2009: The then Sir Allen Stanford chokes back tears over being deprived of being named Forbes’ 405th richest person in the world as a result of the Ponzi charges (which he described as "baloney" and informed a reporter using the dirty word, "If you say Ponzi to my face again, I will punch you in the mouth"). March 6, 2012: "A federal jury convicted international financier R. Allen Stanford on 13 of 14 charges of money laundering and fraud in a Ponzi scheme that lost billions of dollars for investors...As the verdict was read Mr. Stanford, wearing a dark suit, turned to where his family members were sitting and appeared to mouth the words, 'It's OK.'"