A court in England ordered a financial trader to pay back money for his advice, which is more than $700,000, which he gave through his messenger accounts.

The Financial Conduct Authority (FCA), which investigated the case, said the director of 24HR Trading Academy Ltd. Mohammed Fuad Hajjah Maidin Marikar sent customers signals to make market transactions, such as selling or buying securities) and other investment advice without regulatory approval.

The funds returned by Maricar will be distributed to his clients.

The FCA emphasized that neither Maricar nor his company were authorized to give investment advice, and in this case there was a risk of substantial loss to clients.