Broker Cops To Laundering £1M For Fraud Scheme

Law360, London (April 16, 2021, 6:53 PM BST) -- A former British stock broker pled guilty at a London court on Friday to laundering £1 million ($1.37 million) as part of the Financial Conduct Authority's investigation into an investment fraud scheme.

Richard Jonathan Faithfull entered the plea to a single count of fraud in Southwark Crown Court on Friday following a short hearing with lawyers and prosecutors. 

Faithfull is accused of laundering almost £1 million from investment frauds between June 1, 2017 and Aug. 1, 2018. He was arrested following an investigation by the FCA and the City of London Police.

Faithfull wasn't sentenced Friday and has instead challenged the City...

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