Raj Shastri, who only a year ago was describing himself as a property millionaire at a ‘get rich quick’ seminar, is due to be sentenced on Friday.
Raj Von Badlo, also known as Raj Shastri, pleaded guilty to two offences in a foreign exchange scam which promised investors large returns.
He pleaded guilty to an offence of recklessly making false representations to investors and to a further offence of promoting a collective investment scheme without authorisation.
His guilty pleas were made last July.
On Friday, his co-defendant Alex Hope was found guilty after a trial at Southwark Crown Court.
Both men had been prosecuted by the Financial Conduct Authority.
The court heard that in the scam, Hope took more than £5m from investors and used over £2m of this for personal expenditure.
He had told investors that he would trade their money on the forex markets, promising a return of up to 100% in just a few months.
Shastri is pictured in the days when he boasted of his wealth
2nd hand roller and obviously parked outside someone else's house as why not on the drive – would have smelt a rat seeing this!
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I would have smelt a rat if he had called it a "Roller", it's a Bentley.
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Hahahaha I was about to say the same 😉
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