The Financial Conduct Authority has begun criminal proceedings against four people accused of committing fraud.
The regulator alleges that three men and one woman defrauded investors out of £1.4mn between February 2017 and June 2019, through investment schemes that were not genuine.
The investment schemes were with Astaria Group LLP, CCX Capital and two unauthorised clones of Capital Partner Group and Ian Buckley Financial Services.
The FCA has asked that anyone who made an investment with one of these schemes who has not spoken to them so far should contact the regulator.
Raymondip Bedi, aged 33, Patrick Mavanga, 38, Nicholas Harper 24, and Rowena Bedi, 38, have all been charged, with two remanded in custody and two on conditional bail.
The allegations include that the four conspired together to carry out a regulated activity without authorisation.
The FCA has alleged that, between February 2017 and June 2019 Raymondip and Rowena Bedi, Mavanga and Harper conspired to defraud others to persuade them to invest with Capital Partners Group, CCX Capital, Alexander Growth Capital Ltd, Astaria Group LLP or Ian Buckley Financial Services by making false representations.
Raymondip and Rowena Bedi were accused of being in possession of criminal property in March 2019, namely £78,500 in cash, and that the former laundered at least £114,870 between March 2018 and January 2020.
Mavanga was accused of being in possession of a number of identification documents that belonged to others (and with an improper intention) between February 2017 and June 2019, and that he perverted the course of justice by arranging the deletion of telephone call recordings.
The FCA thanked the Metropolitan Police for its “significant assistance” with the operation.
Two of the defendants were remanded in custody and two of the defendants released on conditional bail ahead of first appearance at Southwark Crown Court on May 2, 2023.
sally.hickey@ft.com
