Two convicted over role in £1.5m fake crypto investment fraud

The pair defrauded at least 65 investors out of £1.5m between February 2017 and June 2019, according to an update from the Financial Conduct Authority (FCA). Both pleaded guilty to conspiracy to defraud, conspiracy to breach the general prohibition under the Financial Services and Markets Act 2000 and possession of false identification documents with an improper intention. The group cold-called consumers, directing them to what the FCA described as a "professional-looking" website, on which they were offered high returns for fake investments in crypto. Mavanga was convicted of perv...