The FCA flagged a forex trader allegedly earning £100,000 a month

#1
The British financial regulator FCA blacklisted a university student who claimed he was making 100,000 pounds per month from forex trading. According to the FCA, this individual - Gurvin Singh, a 20-year-old student in the University of Plymouth – as well as two companies that are associated with him, GS3 Marketing Limited and GS3 Trades Ltd., are likely involved in a scam.

Mr. Singh entered the news last year by claiming that he had expanded his £200 forex account to £100,000. He also had a website and an Instagram account that he used to show his lavish lifestyle, including his £50,000 gold Maserati Ghibli. Apparently hundreds of people approached him for investment advice and he referred a number of them to a forex company that is registered in the Bahamas, because of course he did and of course the company was registered in an offshore zone. Currently both the website and the account are down.

Are the FCA in the habit of blacklisting single individuals? I haven't heard of that happening before, this guy must have stood out a lot.


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