UCIS fraudster Alex Hope was sentenced today at Southwark Crown Court to an additional 16 months in prison for perverting the course of justice.

The charge related to his conduct after he was hit with a restraint order in 2012 and a confiscation order in 2016 arising from criminal proceedings brought by the FCA.

In 2015 Mr Hope was sentenced to seven years’ in prison for cheating more than 100 investors out of more than £5.5m by operating a collective investment scheme without authorisation.

Mr Hope used over £2 million of investors’ money to fund his lifestyle, spending over £1 million in a casino, over £200,000 on designer watches and shoes, £60,000 on foreign travel, and over £600,000 in bars and nightclubs in London, Miami and New York, according to an FCA statement at the time of the original court case.

In sentencing him today for perverting the course of justice, Her Honour Judge Taylor highlighted the “blatant and repeated” nature of Mr Hope’s offending and his continued flouting of court orders.

The sentence follows earlier action taken by the FCA against Mr Hope as a result of a string of offences.

On 30 January 2015 at Southwark Crown Court, he received a total of seven years’ in prison for defrauding more than 100 investors of more than £5.5 million by operating a collective investment scheme without authorisation.

He persuaded them to part with their money on the promise that it would be invested on foreign exchange markets and generate significant returns. In reality, most of the cash was used by him to fund a lavish lifestyle.

On one occasion, he obtained €25,000 in €200 notes from a money service bureau in Victoria. He also used the accounts to buy tickets to a concert featuring pop star Rihanna at Wembley Stadium and an Anthony Joshua fight at the O2.

All of this activity was carried out at a time when he was on ‘day release’ from HMP Ford to attend a work placement in central London and while serving the seven year sentence imposed in January 2015.

Mark Steward, executive director of enforcement & market oversight at the FCA, said: “Mr Hope repeatedly misled the courts and the FCA, concealing monies that should have been used to compensate the victims of his crimes.

“Throughout the course of proceedings, he has shown contempt not only to the court, but also those he has harmed.

“Today’s outcome sends a clear message. We will continue to pursue wrongdoers and hold them fully to account.”