UK Sends 2 To Prison For Combined 12 Years For Crypto Scam
Two men, Raymondip Bedi and Patrick Mavanga, have been sentenced to a total of 12 years in prison for running a fraudulent crypto scheme that defrauded over 1.5 million British pounds ($2 million) from at least 65 victims through cold-calling. Bedi received a sentence of five years and four months, while Mavanga was sentenced to six years and six months. The scheme operated between February 2017 and June 2019, directing victims to a deceptive website promising high returns on fake crypto investments. The funds were funneled to companies they controlled, including Astaria Group LLP and CCX Capital. Both men pleaded guilty to multiple charges, including conspiracy to defraud and money laundering. Mavanga was also convicted of perverting the course of justice for deleting evidence after Bedi's arrest. A third defendant awaits retrial, while another was acquitted of money laundering charges.
