The Financial Conduct Authority (FCA) has commenced criminal proceedings against four individuals for conspiracy to commit fraud and for conspiracy to carry out unauthorised regulated activity.
Two of the individuals are also alleged to have committed money laundering offences.
The FCA has alleged that over a two-year period between February 2017 and June 2019, Raymondip Bedi, Patrick Mavanga, Nicholas Harper, and Rowena Bedi defrauded investors out of approximately £1.4m using investment schemes that were not genuine.
These investment schemes were with Astaria Group LLP, an unauthorised clone of Capital Partner(s) Group, CCX Capital, and an unauthorised clone of Ian Buckley Financial Services.
The FCA has asked that anyone who made an investment with one of these schemes and has not previously spoken to the FCA, to contact the regulator.
“Two of the defendants were remanded in custody and two of the defendants on conditional bail ahead of first appearance at Southwark Crown Court on 2 May 2023,” an FCA statement said.
“The FCA expresses it thanks to the Metropolitan Police Service for its significant assistance with this operation.”
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