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Fraudster Cops To Running Illegal Investment Scheme

Law360, London (December 7, 2018, 8:57 PM GMT) -- The director of a company accused of operating an illegal investment scheme pled guilty to charges of fraud and misleading consumers at a criminal court hearing in central London on Friday, Britain’s financial services watchdog said.

Manraj Virdee, who ran a firm said to have unlawfully promoted a deposit-taking scheme, pled guilty at Southwark Crown Court to four charges in a case brought by the Financial Conduct Authority.

The FCA said Virdee pled guilty to charges “encompassing illegal operation of an unauthorized investment scheme, misleading consumers, and two related counts of fraud.” He will be sentenced at a date to be...
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