Spread-Betting Scammer Handed 2-Year Jail Sentence

Law360, London (February 5, 2019, 6:18 PM GMT) -- A spread-betting scammer who stole thousands of pounds from family and friends has been jailed for two years for illegally operating an unauthorized and "spectacularly unsuccessful" investment scheme, the Financial Conduct Authority announced Tuesday.

At a sentencing at Southwark Crown Court on Monday, Manraj Virdee was handed a two-year prison sentence, suspended for two years, and was ordered to complete 300 hours of unpaid community work after pleading guilty to four charges relating to misleading consumers, fraud and the illegal operation of an unauthorized investment scheme worth more than £500,000 ($648,000)

During a criminal court hearing in December in a case...

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