The UK Financial Conduct Authority has obtained confiscation orders totalling GBP 851,402 against two men previously jailed for a fake cryptocurrency investment scheme, according to Finance Magnates, which reported the news on 28 September 2026.
What was announced
The orders were made at Southwark Crown Court. One defendant was ordered to pay roughly GBP 603,000 and the other roughly GBP 248,000. The report says the pair cold-called consumers between February 2017 and June 2019 and persuaded them to put money into supposed crypto opportunities that did not genuinely exist. The scheme ran through companies including CCX Capital and Astaria Group LLP.
At least 65 investors lost a combined GBP 1.54 million. If the full confiscated amount is collected, it would cover about 55% of those losses.
In July 2025 the two men were sentenced to five years and four months, and six years and six months, in prison. Both had admitted fraud and offences linked to carrying on regulated activity without authorisation.
The defendants have three months to pay. Failure to do so can lead to extra prison time, but that would not wipe out the debt. According to the report, the FCA said it has identified and contacted the victims and will return recovered money to them. The orders do not mean victims have already been paid, and no distribution date or method has been given.
Why it matters for traders
Cases like this show how long the road from loss to partial recovery can be: the conduct ended in 2019, and the confiscation stage arrived in 2026, still covering only part of the money lost. Cold calls offering crypto or other investments remain a common route for fraud, and a polished company name proves nothing about authorisation.
What to check
- Whether an unsolicited caller or firm appears on the FCA Register before you send any money.
- Whether the firm contacted you first; unrequested investment offers by phone are a red flag.
- That you can verify the firm's contact details independently, not through a number the caller supplies.
Sources
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