UK FCA secures £851,402 confiscation orders over £1.54 million crypto fraud

  • FCA secured confiscation orders against Bedi and Mavanga over a fraudulent crypto investment scheme.
  • £851,402.27 was ordered for recovery from the two convicted fraudsters.
  • At least 65 investors lost £1,541,799 between February 2017 and June 2019.

The UK Financial Conduct Authority secured confiscation orders totaling £851,402.27 against Raymondip Bedi and Patrick Mavanga over a fraudulent crypto investment scheme that operated from February 2017 to June 2019. Bedi was ordered to pay £603,404.28 and Mavanga £247,997.99 after at least 65 investors lost a combined £1,541,799 through purported opportunities linked to CCX Capital and Astaria Group LLP. If fully recovered, the orders would cover about 55% of the reported losses, but they do not mean investors have received the money. The FCA said it has identified and contacted affected investors and will return funds recovered through the confiscation process. The orders follow prison sentences imposed in July 2025 and come as the regulator expands enforcement against unregistered peer-to-peer crypto businesses.

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