Arrested, trader who blew £200,000 in a night
A SELF-PROCLAIMED financial whizz-kid who shot to notoriety after spending more than £200,000 on drinks in one night has been arrested.
Foreign currency trader Alex Hope, 23, is being held on suspicion of unauthorised trading after the City watchdog alerted police.
Hope racked up the huge bar tab – larger than the value of the average family home – in a Liverpool nightclub last month. The bill included £125,000 for a giant bottle of champagne.
The raid, by City of London police and authorised by the Financial Services Authority, took place at a property in East London on Tuesday. If charged and found guilty, Hope could face jail.
City rules state that, while Hope is allowed to trade currencies – converting pounds into dollars or euros and vice versa – to make a profit for himself, he must have a licence from the FSA to work on behalf of others. Such a licence can cost £1,000 a year. Hope was catapulted into the media spotlight last month thanks to his astonishing drinks bill at the Playground nightclub in Liverpool’s Hilton hotel, where he is said to have entertained Wayne Rooney’s wife, Coleen, and Manchester City stars Joe Hart and Adam Johnson.
He spent £125,000 on a double Nebuchadnezzar of Armand de Brignac champagne – the equivalent of 40 ordinary bottles. It weighed 99lb and had to be carried by two waiters.
The tab also included 40 bottles of Ace of Spades champagne, along with £4,000 worth of Grey Goose vodka. Along with a 10 per cent service charge of £18,540, the total bill was £203,948.80.
But rather than shy away from publicity, Hope, who had previously been pictured socialising with Desperate Scousewives star Layla Flaherty, revelled in the attention, even hiring a PR firm to promote himself further.
His website boasts: ‘Alex is a name to watch out for in the City; an expert in the UK economy, he works the currency markets, regularly trading millions.’
It continues: ‘Throughout his youth, his passions were football and... currencies!
‘At the age of 11, Alex had a deep-rooted interest in the different currencies and relished trips across Europe where he could explore this interest first hand.
‘A talented, charismatic and thoroughly likeable man, Alex Hope exudes knowledge and you can’t help but respect and admire this self-taught and selfmade young trader. Watch out trading markets, Alex Hope is kicking up a storm!’
A spokesman for Hope confirmed he had been taken into custody, but would not comment further.