Investment Scammer Ordered To Hand Back Money

Law360, London (December 20, 2019, 4:54 PM GMT) -- The Financial Conduct Authority announced Friday that it has secured a confiscation order of more than £170,000 ($221,000) in a court decision against a convicted fraudster who swindled investors using an illegal investment scheme.

Southwark Crown Court handed down the confiscation order against Manraj Singh Virdee, who was convicted of illegally operating an unauthorized investment scheme that cheated investors out of £650,000, the FCA said.

Virdee pleaded guilty to four charges relating to misleading consumers, fraud and the illegal operation of an unauthorized  scheme. He was handed a two-year prison sentence, suspended for two years, by the court in February....

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