The Financial Conduct Authority (FCA) secured a bankruptcy order against Arthur Temlett, trading as Abacus Insurance Consultants, on 27 August 2026. The Sheriff granted the application for sequestration, and Emma Porter was appointed as trustee to manage Temlett's financial affairs and distribute recovered funds to creditors.
The FCA obtained confiscation orders against Raymondip Bedi and Patrick Mavanga for their roles in a £1.5 million crypto investment fraud. At a hearing on 28 September 2026, Bedi was ordered to pay £603,404.28 and Mavanga £247,997.99 to return funds to the victims of the fraud.
The FCA identified at least 65 investors who lost £1,541,799 between February 2017 and June 2019 due to Bedi and Mavanga's fraudulent scheme. If the defendants fail to pay the confiscation orders within three months, Bedi could face an additional five years in prison, and Mavanga could face up to two years.