Broker 'Worked As Banker' To Global Boiler Room Fraud

By Richard Crump (September 1, 2021, 4:35 PM BST) -- A former stockbroker accused of acting as a "banker" for an international boiler room scam played a key role in laundering the criminal proceeds of the fraud, according to evidence presented by prosecutors at a trial in London on Wednesday.

Prosecutors produced SMS messages, photos, spreadsheets and "fake" invoices that, they allege, show that Richard Faithfull was closely involved in laundering more than £1 million ($1.4 million) from investment fraud between June 2017 and August 2018.

Faithfull admitted a single count of money laundering in April but is seeking to lessen a potential sentence on the grounds that he was initially...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!