Three individuals, identified as Charles Hunter, Kayan Kalipha, and Luke Desmaris, recently appeared in Westminster Magistrates’ Court facing charges related to their activities on social media. These individuals, often branded as ‘finfluencers,’ are accused of promoting Forex trading through high-risk products called contracts for difference without having the legal authorization to do so.
The legal actions against them are part of a broader initiative undertaken by the UK’s Financial Conduct Authority (FCA), announced in June 2025, which focuses on combating illegal financial promotions disseminated by finfluencers across various jurisdictions. This coordinated enforcement action led to the decision to initiate criminal proceedings against the three defendants.
Each of the individuals is charged with a single count of communicating an invitation to participate in investment activities, violating section 21(1) of the Financial Services and Markets Act 2000. This particular section stipulates that promotion of certain types of financial investments must be authorized, and breaching this can result in severe penalties, including fines and potential imprisonment of up to two years.
During their court appearance, all three defendants pleaded not guilty to the charges. They are scheduled for a subsequent hearing at Southwark Crown Court on October 8, 2025, where the proceedings will continue.
This case highlights ongoing regulatory efforts to ensure compliance with financial advertising laws and protect consumers from potentially misleading investment promotions appearing on social media platforms. The actions taken by the FCA reflect an increasing concern over the influence of finfluencers, who often have large followings and can sway public investment decisions without proper regulatory oversight.