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‘Callous’ UK crypto investment scam sees two convicted of fraud

( November 7, 2024, 10:39 GMT | Official Statement) -- MLex Summary: Two individuals have been convicted of fraud, money laundering and possession of false documents for their involvement in a UK crypto investment scam. Patrick Mavanga and Raymondip Bedi were part of a group that cold-called consumers, then directed them to a “professional-looking” website where they were offered high returns for fake crypto investments. “Their schemes were nothing but a callous scam,” said Steve Smart, enforcement director at the Financial Conduct Authority. At least 65 investors were defrauded out of more than 1.5 million pounds. Mavanga and Bedi will be sentenced at a later date. A third defendant faces a retrial in September 2025.Statement below....

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