Crypto Scam Alert: 65 Duped in £1.5M UK Fraud

Krutika Adani

Fake Profits, Real Losses

Two Londoners orchestrated a £1.54 million crypto scam, duping over 65 investors with promises of “risk-free” profits between 2017 and 2019.

The Masterminds Behind the Con

Raymondip Bedi and Patrick Mavanga cold-called victims and faked crypto trades using bogus websites, charts, and shell companies.

Big Promises, Bigger Lies

Victims were lured with 10% monthly return claims. One investor lost £200K—no crypto was ever actually purchased or traded.

Justice Served

Both men pleaded guilty to conspiracy and money laundering. Bedi and Mavanga got over 5 and 6 years in prison, respectively.

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