The UK Financial Conduct Authority (FCA) has secured confiscation orders against Raymondip Bedi and Patrick Mavanga over a £1.5 million cryptoasset investment fraud that affected at least 65 individuals.
The ruling was issued on Monday, September 28, 2026, at Southwark Crown Court under the Proceeds of Crime Act 2002. The court ordered Bedi to pay £603,404 and Mavanga to pay £247,997, bringing the total recovery to £851,402.
The defendants ran fraudulent front schemes, including CCX Capital, and misled victims into investing in non-existent cryptoasset opportunities. The FCA stressed that these financial penalties target real assets and apply regardless of any prison terms already served.
The regulator plans to distribute the confiscated funds among identified victims and has encouraged other affected investors to contact its consumer helpline. The defendants have three months to pay the ordered amounts or face additional prison sentences of up to five years.
The case underscores the FCA’s growing crackdown on illicit crypto platforms and reinforces its commitment to protecting retail investors through direct asset forfeitures.
