The Financial Conduct Authority has urged victims of £2.5m boiler room investment fraudster Richard Faithfull to come forward by 12 September to ensure they are part of any claim for compensation.

The FCA has banned indefinitely five individuals involved in an illegal investment scheme which ripped off elderly and vulnerable investors.

The Serious Fraud Office has secured a £163,350 increase in the confiscated amount awarded against boiler room fraudster David Vidgeon, bringing the total confiscation amount to £269,899 over ten years after he was convicted.

A fraudster has been jailed for seven years for conning elderly and vulnerable victims out of nearly £3m in a ‘boiler room’ fraud operation which promoted bogus corporate bond investments.