HBFS Financial Services, based in Borehamwood, Hertfordshire, has been closed to new business according to its website.
The City of London Police arrested a 49-year-old man from Borehamwood on 9 November on suspicion of fraud by false representation, false accounting and money laundering following a referral from the FCA.
In a statement the FCA said: “HBFS’s customers are advised to check the status of any investments made through HBFS and, if they have any concerns, to contact City of London Police.”
HBFS had not commented at the time of publication, but a statement on its website said: “Please note that HBFS is not accepting business from new customers at this time. Our full ‘ongoing’ service to existing clients and their investment needs continues as normal.”
The City police force confirmed it was investigating the case in its capacity as the lead force for fraud. Anyone with information in relation to the case should contact detectives on 020 7601 6968, or email 3000-17@cityoflondon.pnn.police.uk.
