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BLOCKCHAIN LAB BRIEFING · REGULATION

The FCA Says Confiscation Orders Follow a £1.5 Million Crypto Investment Fraud

The fact is a fraud case and a recovery step. It is not a description of how the crime worked, and this page will not add one.

28 September 2026

All briefings

01

What happened

On 28 September 2026 @TheFCA posted that victims of a £1.5 million crypto investment fraud were closer to recovery after confiscation orders against Raymondip Bedi and Patrick Mavanga. The post says the two persuaded people to invest in fake cryptoasset opportunities and that at least 65 people were left out of pocket. This snapshot shows 5 reposts, 3 quotes, 6 replies and 10 likes.

Low engagement does not make an official post less official. The account is the regulator.

02

Why it matters

Confiscation is a proceeds order. It is not the same as victims already being paid. 'Closer to getting money back' is the agency's phrase and should stay qualified.

The offence described is a fake opportunity, not a protocol failure. Mixing this into a smart-contract incident list is a category error.

03

The operating layer

The only operational lesson on this page is the old one: an investment pitch that sits outside a registered firm is the pattern the agency is describing. This page does not repeat any solicitation detail.

Do not name a recovery as complete. The post says closer.

04

What is verified

The amounts, the victim count, the two names, and the existence of confiscation orders are in the FCA's post.

The underlying judgment was not read here.

05

What is still unclear

How much of the £1.5 million the orders actually recover.

The timetable for any distribution to victims.

Whether further defendants exist. The post names two.

06

The catch

A confiscation post will be reused as a market scare about cryptoassets as a class. The agency described a fraud by two men. That is the width of the sentence.

WATCH

What builders should watch

  1. 01The FCA notice linked from the post.
  2. 02Whether victims have in fact been paid.
  3. 03The distinction between this fraud and a protocol loss.
  4. 04Any later variation of the orders.

BOTTOM LINE

The FCA says confiscation orders against two named men follow a £1.5 million fake-investment fraud with at least 65 victims. That is a recovery step in a fraud case. It is not a statement about a protocol, and the money is not described as already returned.

Sources

Blockchain Lab uses public social posts as reporting leads, not as proof. Every published briefing is assessed against primary sources, available documentation and relevant technical context. Social engagement is not used as evidence of the underlying claim.

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