UK FCA Recovers Funds for Victims of £1.5M Crypto Fraud, Two Fraudsters Forfeit Over £850K
The UK Financial Conduct Authority (FCA) has obtained confiscation orders against Raymondip Bedi and Patrick Mavanga to recover £1.5 million for victims of crypto investment fraud. At a hearing at Southwark Crown Court on September 28, 2026, Raymondip Bedi was ordered to pay £603,404.28, and Patrick Mavanga was ordered to pay £247,997.99. Between February 2017 and June 2019, the two operated fraudulent investment schemes through companies such as CCX Capital and Astaria Group LLP, defrauding at least 65 investors of a total of £1,541,799. The FCA has identified and contacted the victims and will ensure that funds recovered through the confiscation process are returned to them. Previously, Raymondip Bedi and Patrick Mavanga were sentenced in July 2025 to 5 years and 4 months, and 6 years and 6 months in prison, respectively.
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