Victims of Richard Faithfull urged to come forward ahead of confiscation hearing
The UK Financial Conduct Authority (FCA) has called on victims of Richard Faithfull to come forward by 12 September 2022 in order to ensure they be part of any claim for compensation.
On Thursday 9 September 2021 Richard Faithfull was found guilty of money laundering, contrary to s.327 Proceeds of Crime Act 2002 as part of a trans-national organised crime group, laundering the proceeds of at least 7 professionally run overseas investment frauds.
He was sentenced to 5 years and 10 months imprisonment and disqualified from being a company director for 10 years.
The Court will also make a Confiscation Order against Richard Faithfull, once it has determined how much he benefitted from offending and the value of his current assets. Southwark Crown Court has set a date of 13 October 2022 for the final hearing.
The FCA is urging any individual who believes they may have suffered a loss directly linked to Richard Faithfull’s offending to contact the FCA urgently if they have not done so yet.
The FCA is asking anyone who made payments to the following bank accounts between 1 June 2017 and 1 August 2018 to contact the FCA:
- Faithfull Investments Limited (63019667, 73188825, 43871401, 80389994, 33260763, 20331791, 55420660, 56129860, 56130560, 56130968, 56932766)
- Global Edge Consulting Limited (20051247, 30656960)
- AG Capital Limited (20056281)
- Meadows Financial Limited (20064365)
- SFM Management Limited (20064349)
- Corbett and White Limited (30917160)
- AVE Star FZE (1015338763901, 1025338763902 and 1025338763903)
The FCA will check that everyone who contacts it is eligible for compensation. Eligibility for compensation under the Sentencing Act 2020 is confined to those who made transfers to the company accounts specified above during the time period set out above.
Richard Faithfull has yet to have a Confiscation Order made against him, and proceedings at Southwark Crown court are ongoing.