Manraj Virdee pleads guilty to illegally operating an investment scheme and fraud

In a case brought by the Financial Conduct Authority (FCA), Manraj Virdee has today pleaded guilty at Southwark Crown Court to four charges encompassing illegal operation of an unauthorised investment scheme, misleading consumers, and two related counts of fraud and will be sentenced at a date to be confirmed in due course.

The FCA alleges that, between October 2015 and November 2017, Mr Virdee, through a company called Dynamic UK Trades Ltd, promoted a deposit taking scheme, marketed as an ‘investment package’ without authorisation from the FCA. The FCA alleges he received approximately £600,000 in investment funds and misled investors.

The hearing was adjourned till 7 January 2019.

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