Money launderer given extra 499 days for unpaid confiscation
Richard Faithfull received an additional 499 days imprisonment for failing to pay a confiscation order following a £2.5m money laundering conviction.
Faithfull was part of a trans-national organised crime group laundering proceeds from at least seven overseas investment frauds. The action underscores FCA commitment to asset recovery and to disrupting investment fraud networks.
Reinforces AML and asset recovery focus on investment fraud proceeds and organised crime.
Action Required
Note FCA's continued pursuit of confiscation and asset recovery; reinforce AML detection of trans-national investment fraud proceeds.
Demonstrates persistent FCA enforcement focus on investment fraud and money laundering networks.
AML risk stable but reinforced. Validate monitoring for investment fraud typologies and trans-national laundering patterns.
“Richard Faithfull was sentenced to an additional 499 days for failing to pay confiscation order. Originally sentenced in 2021 to 5 years 10 months for laundering £2.5m as part of a trans-national organised crime group behind overseas investment frauds.”
Published: 2026-06-01