$BTC $CRCL $COINB #ukfcawinscourtordertorecover851400pounds
The UK’s Financial Conduct Authority (FCA) has secured a court order requiring two individuals behind a crypto investment scam to repay a combined £851,402 to victims.
On September 28, 2026, Southwark Crown Court ordered Raymondip Bedi to pay £603,404 and Patrick Mavanga to pay £247,998. Between February 2017 and June 2019, the pair operated a cold-calling scheme that directed potential investors to professional-looking websites and promoted fake crypto investments under names including CCX Capital and Astaria Group LLP, often promising high returns.
At least 65 investors reportedly lost a combined £1,541,799. Both men had previously been sentenced in July 2025 to prison terms of 5 years 4 months and 6 years 6 months respectively.
While the recovered amount represents roughly half of the total losses, the FCA has confirmed that it has contacted the victims and will distribute the recovered funds to them. The defendants have three months to make the payments.
Two important reminders for investors: unsolicited investment calls and professionally designed websites do not guarantee legitimacy, especially when high or guaranteed returns are promised. And regulatory enforcement can continue beyond criminal convictions, with authorities still working to recover funds for victims.
#CryptoScams #FCA #InvestorProtection
The UK’s Financial Conduct Authority (FCA) has secured a court order requiring two individuals behind a crypto investment scam to repay a combined £851,402 to victims.
On September 28, 2026, Southwark Crown Court ordered Raymondip Bedi to pay £603,404 and Patrick Mavanga to pay £247,998. Between February 2017 and June 2019, the pair operated a cold-calling scheme that directed potential investors to professional-looking websites and promoted fake crypto investments under names including CCX Capital and Astaria Group LLP, often promising high returns.
At least 65 investors reportedly lost a combined £1,541,799. Both men had previously been sentenced in July 2025 to prison terms of 5 years 4 months and 6 years 6 months respectively.
While the recovered amount represents roughly half of the total losses, the FCA has confirmed that it has contacted the victims and will distribute the recovered funds to them. The defendants have three months to make the payments.
Two important reminders for investors: unsolicited investment calls and professionally designed websites do not guarantee legitimacy, especially when high or guaranteed returns are promised. And regulatory enforcement can continue beyond criminal convictions, with authorities still working to recover funds for victims.
#CryptoScams #FCA #InvestorProtection
