An investment scheme fraudster pleaded guilty at Southwark Crown Court today.

Manraj Virdee admitted operating an investment scheme and fraud in relation to his illicit activities with a firm called Dynamic UK Trades Ltd.

Mr Virdee was was the sole director of the company, which aroused the suspicion of the FCA and City of London Police after consumers were ripped off.

He pleaded guilty to four charges encompassing illegal operation of an unauthorised investment scheme, misleading consumers, and two related counts of fraud.

He will be sentenced at an as yet unconfirmed date.

It is alleged that between October 2015 and November 2017, Mr Virdee, through Dynamic Trades, promoted a deposit taking scheme, marketed as an ‘investment package’ without authorisation from the FCA.

The FCA claims he received approximately £600,000 in investment funds and misled investors.

The hearing was adjourned until 7 January and the case continues.