UK FCA cracks down on cryptocurrency fraud, two criminals sentenced to more than 12 years in prison
Prefer us on GoogleOdaily News The Financial Conduct Authority (FCA) of the United Kingdom has successfully imposed judicial sanctions on Raymondip Bedi and Patrick Mawanga, who were sentenced to 5 years and 4 months and 6 years and 6 months in prison respectively for carrying out a cryptocurrency fraud worth £1.5 million, a total of more than 12 years. Between 2017 and 2019, the two criminals used telemarketing to induce at least 65 investors to invest in fake cryptocurrency schemes involving companies such as CCX Capital and Astaria Group LLP. The judge described them as key participants in the conspiracy and serious violations of the Financial Services and Markets Act 2000.
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