UK FCA cracks down on cryptocurrency fraud, two criminals sentenced to over 12 years in prison

According to Finance Feeds, the Financial Conduct Authority (FCA) in the UK has successfully imposed judicial sanctions on Raymond Diep Bedi and Patrick Marwanga, who were sentenced to 5 years and 4 months in prison and 6 years and 6 months in prison respectively for committing a cryptocurrency fraud case worth £ 1.5 million, totaling over 12 years. Between 2017 and 2019, two criminals lured at least 65 investors into investing in fraudulent cryptocurrency schemes through telephone sales, involving companies such as CCX Capital and Astaria Group LLP. The judge described them as the "main participants in the conspiracy" and a serious violation of the Financial Services and Markets Act of 2000.