U.K. Courts Sentence #Crypto Fraudsters to 12 Years Combined Prison Time


Raymondip Bedi has received a sentence of five years and four months while Patrick Mavanga got six years and six months for their $2 million crypto scam.


The duo operated between February 2017 and June 2019, cold-calling victims to promote fake #crypto investments.


They defrauded 65 investors of over 1.54 million British pounds through professional-looking websites promising high returns.


The #fraud scheme operated through companies including Astaria Group LLP, CCX Capital, and cloned authorized firms.


Judge Griffiths described them as "leading players" who drove "a coach and horses through the regulatory system."


Bedi pleaded guilty to conspiracy to defraud, money laundering, and breaching financial services laws.


Mavanga faced additional charges for possessing fake identification documents and perverting justice.


The Financial Conduct Authority emphasized the sentences serve as a warning to other potential fraudsters.


A third unnamed defendant will face retrial in September while a fourth was acquitted.


The case highlights ongoing enforcement efforts against crypto-related financial crimes in the U.K.

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July 07, 2025 at 12:18 PM