An adviser convicted of theft has lost his court appeal against an FCA ban despite claiming there was a ‘vendetta’ against him.

Anthony Badaloo, who has also been convicted of trespassing, took the regulator's decision to cancel his permission to the Upper Tribunal.

But this has been struck out.

The legal papers showed that the former sole trader at Church Hill Finance had stated: “There appears to be unfounded actions against me, which amounts to a vendetta, as supported by the facts and the law.

“I have not been provided with any allegation, nor who made such an allegation.

“I have not been provided with any evidence, to support the purported allegations.”

Judge Rodger Berner said: “Mr Badaloo’s case continues to lack not only form but any material substance. As it stands, it cannot be regarded as having any reasonable prospect of succeeding against the Authority’s case as presented. Despite Mr Badaloo having told me that he had legal advice, there is no evidence of any objective or
rational legal analysis being brought to bear in any of the documents filed by Mr Badaloo.

“Such attempt as there has been at finding legal support for the propositions advanced is of a barrack room quality, replete with irrelevance and non-sequitur, and is without any legal merit. It does not come close to advancing an arguable case for Mr Badaloo.”

The judge stated: “Mr Badaloo also seeks to support his case with further documents provided at and shortly before the hearing. I have read those documents, which comprised statements from a consultant of an organisation called A S Citizen Advice Agency, from a law student and from Mr Badaloo’s partner, all of which make the same flawed attempts at providing legal justification for the position adopted by Mr Badaloo, but which do not address any of the issues of substance in the Authority’s statement of case.

“I have also read a further sworn affidavit of truth from someone described as a common law investigator which purports to contain “findings” with respect to the court orders made, and which is of no value in this case. Equally valueless in the context of these proceedings is the Affidavit of the Truth sworn by “[The Judge Captain]: Carl-Peter Hoffman the spiritual moral being”.”

The FCA said he had since 13 April 2015 “repeatedly failed to comply fully, or at all, with reasonable authority requests to provide information and documents to the authority in relation to his business records and his creditor position”.

Mr Badaloo was convicted of one count of trespassing and one count of theft, an FCA notice stated, and on 30 October 2015, he was sentenced for those offences to a Community Order of unpaid work of 100 hours, and ordered to pay £3,500 in costs, plus a £60 victim surcharge.

The FCA notice stated: “On the basis of this, the authority considers that Mr Badaloo cannot be expected to act with probity.”

The regulator said it considered he was “not fit and proper to be permitted to conduct regulated activities”.

Mr Badaloo’s firm was based in Barnet, north London.