NewsLayer

Install NewsLayer

Get the app experience — one tap from your home screen, instant loads and breaking-news alerts.

NewsLayer.com
LatestDaily BriefMarkets
NewsLayer PulseLIVE₿BTC$84,795+0.24%ΞETH$2,692+0.58%◎SOL$120.01+0.94%✕XRP$1.49+0.18%ÐDOGE$0.0928-0.26%₳ADA$0.2437-1.27%Total Cap$2.85T-0.06%24H Vol$64.8BLayer Index51 Neutral
BreakingChainalysis Used AI to Trace the $387M Bitget Hack Back to North Koreahace 9 horas
Markets
HomeCryptoPolicy

Crypto|Policy

FCA secures money back for victims of crypto fraud

Victims of a £1.5m crypto investment fraud will recover lost funds after the FCA obtained confiscation orders against Raymondip Bedi and Patrick Mavanga.

Wired Gov

Publisher

Sep 29, 2026 at 9:29 AM UTC · 2 min de lectura

FCA secures money back for victims of crypto fraud
NewsLayer editorial artwork

Key Signal

£603,404.28 Bedi confiscation order

Last Updated

hace 5 días

Traduciendo…

FCA secures money back for victims of crypto fraud

Victims of a £1.5m crypto investment fraud will recover lost funds after the FCA obtained confiscation orders against Raymondip Bedi and Patrick Mavanga.

At a hearing at Southwark Crown Court on 28 September 2026, Raymondip Bedi was ordered to pay £603,404.28 and Patrick Mavanga £247,997.99.

Reach crypto's most engaged readers — advertise mid-article on NewsLayer
Sponsored

Reach crypto's most engaged readers — advertise mid-article on NewsLayer

NewsLayer

Ad

Between February 2017 and June 2019, Bedi and Mavanga operated a fraudulent investment scheme, cold-calling consumers and persuading them to invest in fake cryptoasset opportunities through companies including CCX Capital and Astaria Group LLP. At least 65 investors were defrauded and lost £1,541,799.

The FCA has identified and contacted victims of the fraud and will ensure that funds recovered through the confiscation process are returned to victims.

In July 2025, following an FCA prosecution, Raymondip Bedi was sentenced to 5 years and 4 months' imprisonment and Patrick Mavanga was sentenced to 6 years and 6 months' imprisonment for their roles in the scheme.

Why this matters

The FCA's confiscation orders create a mechanism to return recovered proceeds to victims, extending enforcement beyond convictions and prison terms. The action signals that UK regulators may pursue asset recovery in crypto-investment fraud cases, which could strengthen consumer-redress outcomes.

Steve Smart, joint executive director of enforcement and market oversight at the FCA, yesterday said:

“Bedi and Mavanga defrauded investors and left them out of pocket. These orders bring victims a step closer to getting money back.

“We’ll keep coming after fraudsters and holding them to account.”

Article Intelligence

Topics

government-policyregulationcrypto

Regulation Signal

proposedUpdated hace 2 meses

UK FCA Cryptoasset Regime — Phase 2 Consultation

Related Coverage

CryptoCOIN and CRCL Stock Outlook as ICBA Sues OCC For Issuing Bank Charters to Crypto Companieshace 3 horas · 1 min readPolicyMALT Loses $72K After Flawed Swap Lets Attacker Tap Treasury DAIhace 3 horas · 1 min readCryptoSEC Just Clarified Something Big for XRP and Cryptohace 4 horas · 2 min read
View all related

Sponsored

Ad
House — Advertise on NewsLayer
NewsLayerLearn more

NewsLayer Premium

Unlock deeper intelligence.

Ad-free reading, exclusive research, and real-time onchain insights.

Go Premium
NewsLayer.com

The front page of the onchain economy. Crypto, Web3 and regulation intelligence — live prices, original research and policy tracking in one layer.

Follow on XTelegram

News

  • Latest News
  • The Daily Brief
  • Crypto
  • DeFi
  • Policy
  • Web3
  • Blockchain
  • Explainers

Markets

  • Market News
  • Layer Index
  • Live Charts
  • DeFi Protocols
  • Regulation Tracker
  • Regulation Radar

Company

  • About NewsLayer
  • Advertise
  • PR Publication
  • Become an Author
  • Our Authors
  • Create Account
  • Sign in

Resources

  • Research
  • NewsLayer Originals
  • My Feed
  • Search
  • AI Sector
  • Quantum Sector

NewsLayer Premium

Read the full layer.

Unlock premium intelligence, original research and an ad-free reading experience.

  • Premium Intelligence briefings
  • Ad-free reading experience
  • Members-only research & data
Go Premium

© 2026 NewsLayer.com — The front page of the onchain economy

Privacy Policy·Terms of Service
NewsLayer

Get the signal, not the noise.

Markets, regulation and onchain intelligence in a 5-minute morning read — plus breaking alerts and Layer Index flips as they happen.

The Daily Brief

Breaking alerts

Index flips

Free · No spam · Unsubscribe anytime