News
UK: Ex-adviser Richard Faithfull jailed after laundering money for organised crime group
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

RiskScreen: Eliminating Financial Crime with Smart Technology

Count this content towards your CPD minutes, by signing up to our CPD Wallet

FREE CPD Wallet