On Feb. 5, 2019, UK FCA announced Virdee sentenced to 2 years imprisonment
suspended for 2 years, and ordered to do 300 hours unpaid work in community.
- FCA has obtained financial restraint order, against Mr Virdee’s remaining assets.
- Will pursue confiscation proceedings, go some way to compensating the victims.
Alleged Violations
- Virdee, through Dynamic UK Trades Ltd, promoted a UK deposit taking scheme.
- Marketed scheme as an ‘investment package’, without authorization from FCA.
- Investors were misled into depositing approximately £600k in funds to scheme.
