UK FCA cracks down on cryptocurrency fraud, two criminals sentenced to more than 12 years in prison

Odaily Planet News: The UK Financial Conduct Authority (FCA) successfully imposed judicial sanctions on Raymondip Bedi and Patrick Mawanga, who were sentenced to 5 years and 4 months and 6 years and 6 months in prison, respectively, for a cryptocurrency fraud case worth 1.5 million pounds, totaling over 12 years. Between 2017 and 2019, the two criminals used telephone sales 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 participants in the conspiracy" who seriously violated the Financial Services and Markets Act 2000.