The man arrested by the Financial Services Authority (FSA) in connection with an unauthorised foreign exchange trading scheme also hit headlines last month, it has emerged.
Alex Hope, the 23 year old trader who claimed before his arrest to have made a fortune through forex trading, was thrown into the public eye in March by reports of him spending £200,000 in a single night at a bar.
Hope spent £125,000 alone on a 99lb bottle of Armand de Brignac champagne, equivalent to 40 regular bottles, during an evening at the Underground nightclub in the Liverpool Hilton Hotel.
He also bought 40 more bottles of Ace of Spade champagne and £4,000 worth of Grey Goose vodka.
Last night Hope's publicist confirmed to CityAM he had been arrested but denied all allegations.
The FSA said no-one has yet been charged in connection with the forex investigation.
On his personal website, Hope describes himself as "a talented, charismatic and thoroughly likeable man" who "knows and loves the forex market" and who taught himself to trade as a teenager.
"Alex Hope exudes knowledge and you can't help but respect and admire this self-taught and self-made young trader," the website reads.
"Watch out trading markets, Alex Hope is kicking up a storm!"
Caring for children and elderly relatives
Similar to June 2007
Square Mile’s series of informal interviews
Fine reduced to £60,000
Two roles created