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
- Bitcoin Stablecoin Network Plasma Sets XPL Token Sale After Attracting $1 Billion in Deposits2025-07-10 23:39:51
- Agora Raises $50 Million to Power Next Wave of Stablecoins2025-07-10 22:49:42
- Ex-Bitfury Executive Receives Senate Nod to Head Banking Regulator2025-07-10 22:36:16
- Bitcoin Shorts Get Rekt as BTC Tops $116K for First Time2025-07-10 21:40:17
- Myriad Moves: Will Bitcoin Stay Hot? This Week's Buzziest Prediction Markets2025-07-10 20:33:14