UK FCA Secures £851,402 Confiscation Orders for Victims of Crypto Investment Fraud

The UK Financial Conduct Authority has secured confiscation orders totalling £851,402.27 against two men convicted over a crypto investment fraud that caused at least 65 investors to lose £1,541,799.

At Southwark Crown Court on 28 September 2026, Raymondip Bedi was ordered to pay £603,404.28 and Patrick Mavanga £247,997.99. The FCA said it has identified and contacted victims and will ensure money recovered through the confiscation process is returned to them.

Between February 2017 and June 2019, Bedi and Mavanga operated a fraudulent investment scheme that cold-called consumers and persuaded them to invest in fake cryptoasset opportunities through businesses including CCX Capital and Astaria Group LLP.

The confiscation proceedings follow the criminal prosecution of the two men. In July 2025, Bedi was sentenced to five years and four months in prison and Mavanga to six years and six months for their roles in the scheme.

The latest action is an asset-recovery stage of the case rather than a new finding of guilt. It shows how confiscation proceedings can follow a completed financial-crime prosecution to identify and return criminal proceeds to victims.

Source

Financial Conduct Authority, “FCA secures money back for victims of crypto fraud”, 28 September 2026.