Freddy David was the managing director of Hertfordshire-based HBFS Financial Services Limited, a firm regulated by the Financial Conduct Authority. [...] David, a well-known figure in the Jewish community, whose wife Hannah stood as a Conservative Party candidate in Harrow West this year, has been at the Borehamwood-based firm for 17 years, and has led it since 2005. He and his wife are believed to be the joint owners. (timesofisrael.com)
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He led the wealth management company [HBFS], which says it helps clients “put off the taxman,” since 2005, and together with his wife Hannah – who stood as a Conservative Party candidate in Harrow West last year – he is thought to have owned it. [...] The company offers help placing money in offshore “wrappers” for those with £100,000 or more to invest, helping clients legally avoid capital gains tax, corporation tax and income tax. It also offers advice on trusts, ISAs, equities, bonds and pensions, and advises clients how best to legally avoid inheritance tax.
The FCA and City of London Police issued a statement saying they are “are working closely on an investigation concerning the affairs of HBFS Financial Services Limited, a firm regulated by the Financial Conduct Authority. [...] A spokesperson for HBFS told Jewish News: : “HBFS is one of the UK’s largest introducers to the Old Mutual Group, onshore and offshore, and all funds held on both platforms are secure and unaffected by the Investigation.”
Freddy David, the disgraced managing director of the now defunct HBFS wealth management company, was sentenced to six years in prison for fraud on Monday. But furious victims of his Ponzi scheme, members of the Jewish community in Borehamwood, Elstree, Wembley and elsewhere, left Southwark Crown Court insisting that the jail term was “not long enough”.
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Last updated: Thu Aug 09 2018 18:34:22
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