Broker Gets 70 Months For Laundering Boiler Room Funds

By Richard Crump (September 9, 2021, 12:58 PM BST) -- A judge sentenced former stockbroker Richard Faithfull to five years and 10 months in prison on Thursday for his role in laundering £2.6 million ($3.6 million) stolen from victims of an international network of boiler room frauds.

Former stockbroker Richard Faithfull engaged in "shameful" criminal conduct while working as the "banker" for seven investment scams that conned at least 135 victims out of money, a judge at Southwark Crown Court has said. (AP Photo/Frank Augstein) Faithfull, who has been authorized by the Financial Conduct Authority, had engaged in "shameful" criminal conduct while working as what prosecutors described as the "banker" for...

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