Company director jailed for £2.5m money laundering fraud

Richard Faithfull part of organised crime group

A company director has been sentenced to almost six years imprisonment for money laundering as part of a trans-national organised crime group.

Richard Faithfull was handed down the five year and 10-month sentence by Judge Tomlinson following a four-day hearing. He has also been disqualified as a company director for 10 years. According to the Financial Conduct Authority, Faithfull laundered £2.5m as part of a trans-national organised crime group for more than 12 months with the proceeds of at least seven professionally run overseas investment frauds. The FCA said the operation was "sophisticated" and used multiple accounts and front companies across several jurisdictions. "Faithfull was able to use knowledge gained when h...