10 Sep 2021
A former investment adviser has been sentenced to five years and ten months in prison for money laundering as part of an organised crime group.
Richard Faithfull was convicted of laundering £2.5m as part of a trans-national crime group over a period of at least 12 months.
He was also disqualified from being a company director for a period of 10 years after the FCA found he had laundered the proceeds of at least seven professionally run overseas investment frauds.
In a statement released today (September 9), the Financial Conduct Authority said Faithfull was able to use the knowledge gained from working as a regulated investment adviser to help the fraudsters defraud their victims.
By Sally Hickey, FT Adviser, 9 September 2021
Read more at FT Adviser
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