HBFS Financial Services Ltd
The Managing Director of HBFS (Freddy David) promoted himself as being able to help those people who had been put off the taxman. As a result of defrauding some 55 clients out of in excess of £14.5 million through a Ponzi scheme, he was convicted and given a 6-year prison sentence and was released after serving half of this.
The City of London Police fraud team investigated Freddy David and found that he was guilty of using HBFS to run a Ponzi scheme between the years of 2005 to 2017. This was done all while HBFS was being used for legitimate business purposes. He was using the good name of the company to defraud his victims out of anywhere between £20,000 and £750,000.
He enticed people in by offering them tax savings via investments in offshore accounts. This allowed clients to legally avoid having to pay income tax, corporation tax, or capital gains tax. The HBFS website advertised that the Managing Director dealt with high-value and complex investment portfolios for a high-profile and diverse client base.
It is understood that he used his client’s money to pay his children’s school fees, fund his heavy gambling and take luxury holidays. He even opened a restaurant.
Gone Into Liquidation
Its creditors placed HBFS into voluntary liquidation in 2018 and since then the company has stopped taking on any new business. The appointed liquidators are Jonathan Elman Avery Gee, and Stephen Leonard Conn of CG & Co.
Get Help Fast
If you are someone that had dealings with HBFS Financial Solutions Ltd and the investment you made with the company has lost money, then you should review all of your transactions with them. If you have any concerns regarding what you find, then get in contact with us and we can advise you about your case. However, you need to act fast as there are time limitations in place.
Call us now for a phone or video consultation with one of our legal experts on 0800 041 8358 to find out if you are entitled to compensation, you may even be entitled to additional compensation if you have successfully claimed in the past.
Company background (public record)
The company was incorporated at Companies House on 29 October 2004 under company number 05273179. Its status at Companies House is recorded as dissolved.
Registered office: 27 Byrom Street, Castlefield, Manchester, M3 4PF.
Nature of business (SIC): 65110, 65201, 66290.
Company timeline (public record)
Key dated events for this firm, drawn from public records. Each entry shows its source.
| Date | Event | Source |
|---|---|---|
| 29 Oct 2004 | Company incorporated | Companies House |
| 29 Oct 2004 | Freddy David appointed director | Companies House |
| 29 Oct 2004 | Raymond Saadiah Turner appointed secretary | Companies House |
| 29 Oct 2004 | Brighton Secretary Ltd appointed corporate-nominee-secretary | Companies House |
| 29 Oct 2004 | Brighton Director Ltd appointed corporate-nominee-director | Companies House |
| 08 Nov 2004 | Brighton Secretary Ltd resigned as corporate-nominee-secretary | Companies House |
| 08 Nov 2004 | Brighton Director Ltd resigned as corporate-nominee-director | Companies House |
| 02 Apr 2007 | Michael Huber approved by the FCA at the firm | FCA Register |
| 02 Apr 2007 | Jonathan Philip Rosen approved by the FCA at the firm | FCA Register |
| 02 Apr 2007 | Freddy David approved by the FCA at the firm | FCA Register |
| 19 Apr 2013 | Saul Zneimer approved by the FCA at the firm | FCA Register |
| 22 Apr 2013 | Moshi David Kahtan approved by the FCA at the firm | FCA Register |
| 22 Feb 2014 | Raymond Saadiah Turner resigned as secretary | Companies House |
| 30 May 2014 | Grant Andrew Benjamin approved by the FCA at the firm | FCA Register |
| 16 Sep 2014 | Jacob Benjamin Silverstone approved by the FCA at the firm | FCA Register |
| 27 May 2016 | David Nathan Margo approved by the FCA at the firm | FCA Register |
| 09 Jun 2017 | Nicholas Meredith Feldman approved by the FCA at the firm | FCA Register |
| 05 Mar 2018 | Company wound up (creditors’ voluntary liquidation) | Companies House |
| 05 Mar 2018 | Insolvency practitioner appointed: Jonathan Elman Avery Gee | Companies House |
| 05 Mar 2018 | Insolvency practitioner appointed: Stephen Leonard Conn | Companies House |
| 03 Dec 2018 | Declared in default by the FSCS | FSCS |
| 18 Nov 2019 | Insolvency practitioner appointed: Edward Avery-Gee | Companies House |
| 09 Aug 2025 | Company dissolved (creditors’ voluntary liquidation) | Companies House |
| 09 Aug 2025 | FCA status recorded as: No longer authorised | FCA Register |
Who was involved?
The following individuals are listed on public records in connection with the firm. These are matters of public record only and their inclusion does not imply any wrongdoing by any named person.
- Saul Zneimer. Listed on the FCA Register as having held CF30 Customer (19/04/2013 to 08/12/2019) at the firm.
- David Nathan Margo. Listed on the FCA Register as having held CF30 Customer (27/05/2016 to 08/12/2019) at the firm.
- Michael Huber. Listed on the FCA Register as having held CF30 Customer (01/11/2007 to 22/10/2010), CF21 Investment Adviser (02/04/2007 to 31/10/2007) at the firm.
- Nicholas Meredith Feldman. Listed on the FCA Register as having held CF30 Customer (09/06/2017 to 08/12/2019) at the firm.
- Grant Andrew Benjamin. Listed on the FCA Register as having held CF30 Customer (30/05/2014 to 05/01/2018) at the firm.
- Moshi David Kahtan. Listed on the FCA Register as having held CF30 Customer (22/04/2013 to 05/01/2018) at the firm.
- Jonathan Philip Rosen. Listed on the FCA Register as having held CF30 Customer (01/11/2007 to 27/12/2012), CF21 Investment Adviser (02/04/2007 to 31/10/2007) at the firm.
- Jacob Benjamin Silverstone. Listed on the FCA Register as having held CF30 Customer (16/09/2014 to 08/12/2019) at the firm.
- Freddy David. Listed on the FCA Register as having held Responsible for Insurance Mediation (02/04/2007 to 15/05/2019), Responsible for Insurance Distribution (01/10/2018 to 15/05/2019), CF30 Customer (01/11/2007 to 15/05/2019), CF21 Investment Adviser (02/04/2007 to 15/05/2019) at the firm.
- Raymond Saadiah Turner. Listed at Companies House as secretary (appointed 2004-10-29, resigned 2014-02-22).
Review page sources: FCA Register (FRN 463752) · Companies House (05273179) · FSCS. Public records, provided for transparency.
