Page 44 - 期货和衍生品行业监管动态（2023年4月）

期货和衍生品行业监管动态

large cash withdrawals, expensive foreign travel, cosmetic dentistry, online gambling,

property purchases, a wedding reception and partying in nightclubs.

Cameron Vickers was sentenced to 7 and a half years’ imprisonment. He claimed

to be the ‘trading floor manager’ and would meet investors in person to convince them

to invest.

Raheel Mirza was sentenced to 8 years’ imprisonment for the conspiracy to

defraud offence and a consecutive 18 months for perverting the course of justice (a total
of 9 and a half years). He was responsible for setting up and running the BMG offices

to legitimise the operation and the phone lines to drive investments.

Opeyemi Solaja was sentenced to 7 and a half years' imprisonment and directly

received the most money from investors.

These defendants were also disqualified from being company directors for a period

of 10 years. Reuben Akpojaro will be sentenced on 26 May 2023.

Therese Chambers, Executive Director, Enforcement and Market Oversight

at the FCA, said:

‘We will continue to identify and disrupt rogue traders operating in the UK. BMG

was a sham, and despite their best efforts to conceal their true nature with their offshore

accounts, this operation shows we will take fraudsters to task and protect UK investors.

‘As part of our 3-year strategy we are committed to reducing and preventing

conduct that can cause serious harm.’

Binary Options became FCA regulated on 3 January 2018. Binary options are a

high-risk ‘all-or-nothing’ type of investment where 80% of investors lose their money.

Traders will attempt to predict whether an event will happen or not and if they win,

they will see a return, but if they are wrong, they will lose all their investment. Binary

Options have been banned for retail use since July 2018.

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