Victims of a £1.5m crypto investment fraud will recover lost funds after the Financial Conduct Authority obtained confiscation orders against Raymondip Bedi and Patrick Mavanga.
Today (28 September) at a hearing at Southwark Crown Court, Bedi was ordered to pay £603,404.28 and Mavanga £247,997.99. Between February 2017 and June 2019, Bedi and Mavanga were found to have operated a fraudulent investment scheme, cold-calling consumers and persuading them to invest in fake cryptoasset opportunities through companies including CCX Capital and Astaria Group . At least 65 investors were defrauded and lost £1,541,799. The FCA said it has identified and contacted victims of the fraud and will ensure that funds recovered through the confiscation process are returned...
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