A British rabbi in Manchester who heads an investment firm and was arrested on suspicion of conspiracy to commit fraud was questioned by local authorities this week, after he was arrested late last month and later released.
Benji Silverstone, who heads the HBFS Wealth Management office in the British city, has worked there for nearly five years after serving over nine years as the Manchester director of the Jewish outreach group Aish Hatorah.
He was arrested in late December in the wake of other arrests at the company.
His attorney had told the Jewish Chronicle that London police released Silverstone from bail and are not pursuing any criminal charges against him.
In January, however, London police again questioned Silverstone, and a City of London Police spokesperson informed Arutz Sheva that Silverstone is still under investigation. The spokesperson added that a second suspected, a 49-year-old man from Borehamwood, was also arrested in the case. He has since been released on bail.
In December, London police arrested the managing director of HBFS Wealth Management on suspicion of fraud and money laundering, according to the Chronicle. Freddy David joined the company in 2000 having worked as a corporate manager at Barclays Bank.
HBFS customers were advised “to check the status of any investments made through HBFS and, if they have any concerns, to contact City of London Police.”
HBFS also was required to cease advertising its services and to write to existing customers to confirm that it is prevented from holding client money. According to its website, HBFS provides wealth management, inheritance tax solutions and fund management portfolios for self-invested personal pensions.