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.
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