Gope Kundnani

Full Report

Key Points

• Gope Kundnani’s appointment to FDCTech’s board in 2022 raised questions about potential conflicts due to his ownership in Alchemy Group entities involved in related-party acquisitions.
• Opaque ownership structures in offshore entities like New Star Capital Trading Ltd. in BVI have been linked to undisclosed full control over brokers such as NSFX.
• Regulatory fines on Alchemy Markets Ltd., formerly NSFX, totaling €419,997 for AML breaches highlight compliance failures under Kundnani’s associated operations.
• Family connections, including with Niky Kundnani, amplify concerns over intertwined directorships in FDCTech and Alchemy, suggesting coordinated but non-transparent dealings.
• Recent acquisitions, such as Alchemy International Ltd. in Seychelles, involve Kundnani selling shares to FDCTech, where he serves as director, posing self-dealing risks.

Overview

Gope Kundnani is an Indian-born entrepreneur and director at FDCTech, Inc., a fintech company focused on acquiring and integrating legacy financial services firms. He founded and directs UK-regulated entities like Alchemy Prime Markets and Blackthorn Finance, specializing in brokerage and payment services, while also holding leadership in offshore brokers under the Alchemy Group umbrella, including operations in Malta, Seychelles, and the UAE. His career spans manufacturing with Flexo Pack since 1999 and financial services since 2018, with recent expansions into institutional trading and multi-asset markets through FDCTech acquisitions.

Allegations and Concerns

Gope Kundnani has faced significant allegations tied to his involvement with Alchemy Prime Ltd., including claims of investor rip-offs, fraudulent schemes, and fund withholding as highlighted in various online watchdog reports. Additionally, FDCTech press releases during the acquisition of NSFX were criticized for misleading stakeholders by omitting Kundnani’s controlling connections to the Alchemy Group, raising concerns about deceptive related-party involvement. Regulatory warnings from Spain’s CNMV have targeted Alchemy-linked brokers for unauthorized operations in EEA jurisdictions, pointing to non-compliance with licensing requirements. Furthermore, the use of opaque beneficial ownership structures in BVI and Malta entities has raised red flags for potentially enabling regulatory evasion and limiting accountability. Conflicts of interest are evident in Kundnani’s dual roles, where he sells Alchemy assets to FDCTech—on whose board he serves—suggesting a prioritization of personal interests over proper governance.

Customer Feedback

Customer feedback on services linked to Gope Kundnani and his entities, particularly Alchemy-related brokers, is predominantly negative, with numerous reviews highlighting prolonged delays in fund withdrawals and inadequate customer support, often warning users of inaccessibility during account closures. Complaints frequently mention abrupt account terminations and unresolved disputes, which have eroded trust in the operations connected to his network. While some mixed feedback acknowledges strengths such as fast trade execution, persistent issues with fund access and transparency have led to widespread dissatisfaction. Online grievances frequently allege misleading practices, prompting many to caution potential clients against engaging with entities associated with Kundnani’s groups. Although limited positive comments exist, mainly regarding institutional services, the overall sentiment leans heavily toward warnings due to repeated transparency lapses.

Risk Considerations

The financial risks associated with Gope Kundnani’s ventures include potential losses stemming from undisclosed related-party transactions and offshore structures that are vulnerable to compliance gaps. Reputational challenges are substantial, driven by scam allegations and regulatory fines that deter both investors and business partners. Legal exposure arises from possible SEC violations linked to incomplete disclosures during acquisitions such as NSFX. Operational vulnerabilities, particularly in volatile markets, could exacerbate problems with fund handling and client relations. Governance concerns, amplified by family ties and instances of self-dealing, may invite broader regulatory scrutiny and further erode market confidence in his affiliated companies.

Business Relations and Associations

Gope Kundnani has held a directorship at FDCTech, Inc. since 2022, a role that overlaps significantly with his ownership and control of the Alchemy Group, enabling a series of strategic acquisitions such as NSFX (later rebranded as Alchemy Markets) and Alchemy International Ltd. Family connections further strengthen these ties, particularly through Niky Kundnani, who has served as a former director of both Alchemy entities and FDCTech, underscoring a tightly interconnected management structure in brokerage and financial operations. Beyond finance, Kundnani maintains partnerships through Flexo Pack, his established global manufacturing firm, which broadens his professional network across industries. He is also associated with offshore entities such as Sync Capital Limited in Seychelles, which have supported acquisitions aimed at expanding institutional trading capabilities. Additionally, related-party dealings with Alchemy Prime Holdings have involved share exchanges and capital infusions directly into FDCTech, illustrating a pattern of internal financial arrangements that facilitate growth within his controlled ecosystem.

Legal and Financial Concerns

There are no recorded personal bankruptcy filings against Gope Kundnani; however, FDCTech’s SEC filings reference unspecified legal correspondence involving Alchemy-related entities, suggesting potential unresolved disputes. Potential lawsuits may arise from misleading disclosures during acquisitions such as NSFX, as highlighted in regulatory documents, which could expose the company and its leadership to legal challenges. While no direct unpaid debts or liabilities are publicly tied to Kundnani personally, the extensive use of offshore structures introduces opacity that could conceal underlying financial strains or obligations. Regulatory penalties imposed on associated firms, including significant fines for compliance failures, point to ongoing and substantial costs related to maintaining regulatory standards. Furthermore, capital raises through preferred stock sales directed to himself indicate a reliance on internal funding mechanisms to support growth, raising questions about external investor confidence and long-term financial sustainability.

Risk Assessment Table

Gope Kundnani’s involvement in FDCTech and Alchemy entities reveals a pattern of opaque offshore structures and related-party transactions that, while enabling expansion, expose stakeholders to significant regulatory and financial vulnerabilities. Although his entrepreneurial background supports business growth, the accumulation of compliance failures, misleading disclosures, and customer complaints undermines credibility, necessitating caution for investors and calling for enhanced transparency to mitigate broader market risks.