UK Jails Duo for $2M Fake Crypto Consultancy Scam
2025-07-08 14:50:51

Main Idea
UK authorities have sentenced two criminals for defrauding investors through a fake crypto consultancy firm, highlighting ongoing efforts to combat financial crime in the crypto sector.
Key Points
1. Raymondip Bedi and Patrick Mavanga were sentenced to a combined 12 years for defrauding 65 investors via a fake crypto consultancy, stealing $2.03 million.
2. The scam operated under company names like CCX Capital and Astaria Group LLP between 2017 and 2019.
3. UK authorities are intensifying efforts to target financial crimes, including crypto-related fraud.
4. Separately, siblings Redinel and Oerta Korfuzi were sentenced to 11 years for a $1.35 million insider trading scheme involving CFDs and spread betting platforms.
5. The Financial Conduct Authority (FCA) uncovered $357,000 in unexplained cash linked to the Korfuzi case.
Description
The scheme involved the pair cold-calling 65 victims and convincing them to invest in a fake crypto consultancy firm.
Latest News
- Circle's USDC Is Being Adopted by Jack Ma Payment Giant Ant Group2025-07-10 11:20:39
- Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour2025-07-10 11:18:27
- Video Game Performers Secure AI Consent Rules in New SAG-AFTRA Deal2025-07-10 11:04:15
- Australia’s Tokenization Push Could Cement ‘Even Greater Financial Control’2025-07-10 06:55:19
- Elon Musk’s xAI Launches ‘Remarkable, Terrifying’ Grok 4 Model2025-07-10 06:24:09