Three ‘Finfluencers’ In Court For First Appearances
Three financial influencers – known as ‘finfluencers’ – have appeared in court having been charged as part of a global crackdown on illegal promotions led by the Financial Conduct Authority (FCA), one of the UK’s financial regulators.
Charles Hunter from Exeter, Kayan Kalipha from London, and Luke Desmaris from Harlow, appeared before Westminster Magistrates’ Court, each individually charged with an offence relating to their social media posts. They are alleged to have encouraged social media followers to invest in foreign exchange (forex or FX) trading through high-risk products known as contracts for difference, without having the authorisation to promote these investments.
Each defendant has been charged with one count of communicating an invitation to engage in investment activity, contrary to section 21 (1) of the Financial Services and Markets Act 2000. Anyone who contravenes Section 21 (1) of the Financial Services and Markets Act 2000 can be punished on indictment by a fine and/or up to two years’ imprisonment.
All three defendants pleaded not guilty and will next appear at Southwark Crown Court for a hearing on October 8, 2025.
International crackdown on unauthorised promotions
The charges follow the FCA’s announcement in June 2025 about a coordinated global enforcement action targeting illegal financial promotions by finfluencers across multiple jurisdictions. The FCA led a coordinated international enforcement effort involving nine regulators across six countries.
The operation resulted in arrests, interviews, cease and desist letters and over 650 takedown requests across social media platforms and websites. It was as part of that operation, the FCA authorised criminal proceedings against these three individuals.
If you’re unsure if a company is regulated, you can use the FCA’s Firm Checker to find out if a firm is authorised and has permission to promote the service it’s offering. The FCA’s InvestSmart page contains useful information to help people make better investment decisions.
Anyone who believes they have suffered loss in relation to this matter is encouraged to contact the FCA consumer contact centre on 0800 111 6768 (freephone).
Let us help you
If you believe you have been a victim of a financial influencer and may have lost money, or you’re unsure about a product that is being promoted on social media, you can also get in touch with us and we will do what we can to help you.
