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<p><img width="679" height="452" src="https://financefeeds.com/wp-content/uploads/2026/08/The-FCA-Just-Deleted-the-IPO-Research-Blackout-jpg.webp" alt="The FCA Just Told Crypto Firms What Needs Authorising, and MLR Registration Will Not Carry Over" title="FCA Secures £851,000 Recovery Orders For Victims Of £1.5M Crypto Fraud 81"></p>
<h2 id="how-will-victims-recover-funds-from-the-crypto-scheme">How Will Victims Recover Funds From The Crypto Scheme?</h2> The U.K. Financial Conduct Authority (FCA) has secured confiscation orders worth more than £851,000 against two individuals convicted of operating a fraudulent crypto investment scheme, with the recovered funds set to be returned to victims. At Southwark Crown Court on Sept. 28, 2026, Raymondip Bedi was ordered to pay £603,404.28, while Patrick Mavanga was ordered to pay £247,997.99. The FCA said it has identified and contacted investors affected by the fraud and will distribute funds recovered through the confiscation process. The orders follow the convictions of Bedi and Mavanga for their roles in a scheme that targeted investors through fake cryptoasset investment opportunities. Between February 2017 and June 2019, the pair allegedly used cold calls to persuade consumers to invest through companies including CCX Capital and Astaria Group LLP. At least 65 investors lost a combined £1.54 million in the scheme, according to the FCA. 
<h2 id="what-happened-in-the-crypto-investment-fraud">What Happened In The Crypto Investment Fraud?</h2> The fraud involved approaching potential investors directly and presenting opportunities linked to cryptoassets that did not represent genuine investments. The FCA previously prosecuted both individuals, resulting in prison sentences in July 2025. Bedi received a sentence of five years and four months, while Mavanga was sentenced to six years and six months for their roles in the operation. The latest confiscation orders are separate from the criminal sentences and are designed to recover proceeds or assets connected to criminal activity under the Proceeds of Crime Act 2002. Under the orders, offenders must repay either the benefit gained from criminal conduct or the value of their available assets, whichever amount is lower. If the defendants fail to pay within three months, Bedi could face up to an additional five years in prison, while Mavanga could face up to two years. 
<h3 id="investor-takeaway">Investor Takeaway</h3>
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 The recovery highlights the importance of regulatory enforcement after <a href="https://financefeeds.com/crypto-fraud-prosecution/" rel="noopener noreferrer nofollow">crypto fraud</a> cases. While criminal convictions do not always result in full restitution, confiscation orders can create a path for victims to recover part of their losses.
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<h2 id="why-is-crypto-fraud-a-regulatory-priority">Why Is Crypto Fraud A Regulatory Priority?</h2> The FCA has increased enforcement activity against fraudulent crypto investment promotions as digital assets have become a larger part of retail investors’ financial activity. Fraud schemes often rely on the same techniques seen across broader investment scams, including unsolicited approaches, promises of high returns and pressure to make investment decisions quickly. Steve Smart, joint executive director of enforcement and market oversight at the FCA, said the confiscation orders would bring victims closer to recovering their money. “Bedi and Mavanga defrauded investors and left them out of pocket. These orders bring victims a step closer to getting money back,” Smart said. “We’ll keep coming after fraudsters and holding them to account,” he added. 
<h2 id="what-should-crypto-investors-watch-for">What Should Crypto Investors Watch For?</h2> The FCA said consumers who believe they were affected by the fraud and have not previously been contacted should reach out to its Consumer Helpline. The regulator has repeatedly warned investors to verify whether firms offering crypto-related opportunities are authorized and to be cautious of unsolicited investment approaches. The case also shows the challenges involved in recovering money after investment fraud. Identifying offenders and securing convictions does not automatically mean victims receive immediate compensation, as authorities must still locate recoverable assets and complete legal recovery procedures. For crypto investors, the case reinforces the importance of checking the legitimacy of investment providers before transferring funds. Fake crypto opportunities can use professional branding, persuasive sales tactics and claims of market expertise to appear credible while operating outside regulated financial markets. The FCA said fighting financial crime remains a priority under its five-year strategy, with enforcement actions aimed at holding fraudsters accountable and protecting consumers in financial markets.

FCA Secures £851,000 Recovery Orders For Victims Of £1.5M…

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