Raymondip Bedi, 35, and Patrick Mavanga, 40, were sentenced for defrauding approximately 65 investors of £1,541,799 (about $2,104,555) through fake investment websites between February 2017 and June 2019. Their sentences reflect their roles as key players in the scheme.
Judge Griffiths emphasized the responsibility of both individuals in the fraudulent conspiracy aimed at bypassing regulatory systems. The Financial Conduct Authority (FCA) has vowed to persist in pursuing criminal activities linked to cryptocurrency, amid increasing fraud cases in the UK.
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