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The UK court ruled on two financial fraud cases involving amounts exceeding 3 million USD.
According to ChainCatcher news reported by Decrypt, the Southwark Crown Court in the UK recently ruled on two financial fraud cases. Raymondip Bedi and Patrick Mavanga were sentenced to 5 years and 4 months, and 6 years and 6 months respectively for defrauding 65 investors out of $2.03 million through a fake Crypto Assets consulting company. In another case, the siblings Redinel and Oerta Korfuzi illegally profited $1.35 million by using insider information and were sentenced to a total of 11 years in prison. The UK's Financial Conduct Authority (FCA) stated that it will continue to combat financial crimes that undermine market integrity.