FCA secures a further 499-day jail term for convicted money launderer after he failed to repay a £529,961 confiscation order linked to £2.5M in fraud proceeds, ensuring he remains liable for victim losses

In 2021, Richard was originally sentenced to 5 years and 10 months in prison after the FCA successfully prosecuted him for laundering around £2.5 million. He was part of a transnational organised crime group that facilitated proceeds from at least seven overseas investment (“boiler room”) frauds, where victims were misled into fake or high-risk investments. Despite being released from custody in June 2025, Faithfull had only repaid £349,214.37 of the court-ordered amount….