A £2.7m boiler room fraudster, who used different names for his crimes and was jailed for nine years for his crooked activities, has been banned by the FCA.

Three crooks who laundered funds fraudulently obtained from 350 people tricked into investing more than £12m in a boiler room fraud were sentenced on Friday.

The FCA has won a Confiscation Order for £562,636 against former investment adviser and convicted money launderer Richard Faithfull.

Fraudster Michael Nascimento, who helped scam £2.8m from elderly and vulnerable people, has been sentenced to an additional almost four years in prison for failing to pay a confiscation order against him.