2 UK men convicted of crypto investment fraud
The UK’s Financial Conduct Authority has successfully prosecuted two men involved in a £1.5 million cryptocurrency investment fraud scheme that targeted 65 investors.
Raymondip Bedi and Patrick Mavanga deceived potential investors by promising high returns through fraudulent crypto investment platforms, according to the FCA.
Between February 2017 and June 2019, Bedi and Mavanga reportedly cold-called consumers and directed them to professional-looking websites advertising lucrative crypto investments, which turned out to be scams.
By establishing credibility with a sophisticated online presence, the duo convinced victims to invest their money, resulting in over £1.5 million (approximately $1.95 million) in…
