Former buy-to-let ‘guru’ to be sentenced after scam

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

Shastri Raj

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3 Comments

  1. surreyagent

    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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    1. Proper Agent

      I would have smelt a rat if he had called it a "Roller", it's a Bentley.

      Report
      1. Propert NW8 Agent

        Hahahaha I was about to say the same 😉

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