Richard Faithfull Receives 499-Day Prison Extension for Unpaid Confiscation Order

​Richard Faithfull has been handed an additional 499-day prison sentence for failing to fully satisfy a Confiscation Order. Faithfull was previously sentenced in 2021 to 5 years and 10 months for laundering £2.5 million, following a Financial Conduct Authority prosecution. He operated within a transnational crime group that processed proceeds from at least seven overseas investment frauds.

The Court determined his available assets required a repayment of £529,961, but he has paid only £349,214.37. During his original sentencing, the judge characterized the offenses as 'serious,' linked to the 'human misery caused by boiler room fraud,' noting that incoming funds 'were not being invested, it was simply being slaughtered.'

The default sentence was activated at a City of London Magistrates' Court hearing on Friday, 8 May. Faithfull had been released from custody in June 2025.

Even after serving this additional term for non-payment, Faithfull remains liable for the outstanding debt. Any funds recovered will be directed to compensating victims of his crimes.