UK Court Orders Repayment of £851k in Crypto Investment Fraud

A UK court has ordered two men convicted of £1.5 million crypto investment fraud to repay £851,402.27 to their victims.

The Financial Conduct Authority (FCA) obtained confiscation orders against Raymondip Bedi and Patrick Mavanga, requiring them to pay the combined sum within three months.

If they fail to do so, Bedi's prison term could be extended by up to five years, and Mavanga's by two years.

The FCA has identified at least 65 victims who lost £1.541,799 in total to the fake investment scheme, which was operated through companies including CCX Capital and Astaria Group LLP.