Financial Penalties Issued in Investment Scam
On September 28, 2026, Southwark Crown Court issued financial penalties against two individuals involved in a scam that misled investors out of substantial sums of money. Raymondip Bedi was ordered to repay £603,404.28, while Patrick Mavanga must pay £247,997.99. The fraudulent activities of Bedi and Mavanga spanned from February 2017 to June 2019.
Deceptive Tactics and Victim Impact
They entrapped at least 65 unsuspecting individuals through deceptive cold-calling tactics, luring them into investing in non-existent cryptocurrency schemes presented under the guise of legitimate firms like CCX Capital and Astaria Group LLP. The total loss incurred by victims amounted to an alarming £1,541,799.
Legal Actions and Sentences
In connection with this case, the Financial Conduct Authority (FCA) had previously pursued legal action, resulting in significant prison sentences for both men. In July 2025, Bedi was sentenced to serve 5 years and 4 months behind bars, while Mavanga received a lengthier sentence of 6 years and 6 months.
Commitment to Victims
Following the court proceedings, the FCA took proactive measures to reach out to victims and is committed to ensuring that any funds recovered through the confiscation of Bedi and Mavanga’s assets are returned to those affected by the fraud.
Steve Smart, the FCA’s joint executive director of enforcement and market oversight, emphasized the authority’s dedication to combating fraud: “Bedi and Mavanga defrauded investors and left them out of pocket. These orders bring victims a step closer to getting money back. We’ll keep coming after fraudsters and holding them to account.”
