UK Court Orders Crypto Scammers to Repay £851,402.27 in Confiscation Orders
Two UK-based individuals, Raymondip Bedi and Patrick Mavanga, have been ordered to pay £851,402.27 in confiscation orders by a U.K. court. The order comes after they were convicted of defrauding at least 65 investors through a crypto investment scheme that operated from February 2017 through June 2019.
The scam used cold calls to promote fake cryptoasset investment opportunities through companies including CCX Capital and Astaria Group LLP. The men were sentenced to prison in July 2025, with Bedi receiving five years and four months and Mavanga getting six years and six months.
The confiscated funds will be returned to the affected investors through the confiscation process, which is governed by the Proceeds of Crime Act 2002. The men have three months to pay, or their sentences could be increased further.
According to Steve Smart, joint executive director of enforcement and market oversight at the Financial Conduct Authority (FCA), 'Bedi and Mavanga defrauded investors and left them out of pocket. These orders bring victims a step closer to getting money back.'