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UK Jails Duo for $2M Fake Crypto Consultancy Scam

2025-07-08 14:50:51

UK Jails Duo for $2M Fake Crypto Consultancy Scam

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.

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