UK FCA Cracks Down on Cryptocurrency Fraud, Two Criminals Sentenced to Over 12 Years

The UK Financial Conduct Authority (FCA) has successfully imposed judicial sanctions on Raymondeep Bedi and Patrick Mwanga, who were sentenced to 5 years and 4 months and 6 years and 6 months in prison, respectively, for carrying out a £1.50 million cryptocurrency fraud, totaling more than 12 years. Between 2017 and 2019, the two criminals used telephone marketing to induce at least 65 investors to invest in fraudulent cryptocurrency schemes involving companies such as CCX Capital and Astaria Group LLP. The judge described them as "key players in the conspiracy" who seriously violated the Financial Services and Markets Act 2000. [Odaily Planet Daily]