Two individuals have been convicted for their roles in an £1.5 million investment fraud following a prosecution brought by the UK Financial Conduct Authority (FCA).
Between February 2017 and June 2019, Raymondip Bedi and Patrick Mavanga, defrauded at least 65 investors out of £1,541,799. The group cold-called consumers, directing them to a professional-looking website where they were offered high returns for fake investments in crypto.
Raymondip Bedi pleaded guilty to conspiracy to defraud, conspiracy to breach the general prohibition under the Financial Services and Markets Act 2000 and money laundering offences at an earlier hearing.
Patrick Mavanga pleaded guilty to conspiracy to defraud, conspiracy to breach the general prohibition under the Financial Services and Markets Act 2000 and possession of…
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