Financial Conduct Authority secures GBP 305,284 confiscation orders against Mirza, Vickers and Solaja over investment fraud

The Financial Conduct Authority has secured confiscation orders totalling GBP 305,284 against Raheel Mirza, Cameron Vickers and Opeyemi Solaja for their roles in an investment fraud, representing all of their remaining assets. The FCA said the money will be returned to investors at the earliest opportunity and that failure to pay can lead to imprisonment. Between June 2016 and January 2020, the defendants cold called people and persuaded them to invest in a shell company, claiming clients’ money would be traded in binary options when it was instead used to bankroll their lifestyles. The FCA stated the fraud conned 120 people and that the defendants were convicted in 2023 and sentenced to a combined 24 and a half years; it also noted that confiscation is limited to a defendant’s means and that any compensation to victims is a matter for the court and can only be paid after payment towards a confiscation or compensation order. In a separate update, the FCA reported it had secured a confiscation order against Reuben Akpojaro for his role in the fraud, with confiscation proceedings adjourned to a later date.