Investment scheme fraudster receives two-year suspended sentence

The sentencing at Southwark Crown Court followed Virdee's guilty pleas to four charges relating to misleading consumers, fraud and the illegal operation of an unauthorised investment scheme worth more than £500,000. Virdee was the sole director of Dynamic UK Trades Ltd and, between October 2015 and November 2017, promoted a deposit-taking scheme without permission from the FCA. He largely targeted his wider family and associates, the regulator said. Virdee also entered into an agreement with an investor to manage some £192,500 in spread betting trading, the FCA said, but only £10,000 was...