Gaudi Limited offered a range of investment plans and held accounts worth millions. However, the firm has links with companies involved in a fraud and money laundering case.
Established in February 2008, the Wiltshire-based company offers a range of self-invested personal pensions (Sipps). In recent years, it has administered into a number of failed Sipp companies. However, the firms, including Greyfriars Asset Management and Beaufort Securities, had failed due to links to mis-selling and fraud.
Greyfriars Asset Management
The Financial Conduct Authority (FCA) placed sanctions upon Greyfriars and as a result, the company has been unable to accept any new money since 2016.
The firm was handed a Section 166, commonly known as a skilled person review, which came after client complaints that Sipps are now worth significantly less than they once were.
You can learn more about Greyfriars Asset Management here.
Beaufort was placed into insolvency by the FCA after claims of money laundering and fraud were made by the US Department of Justice.
The firm had over 17,500 clients and around £700 million under management. Gaudi administered the Sipps.
The FSCS is currently working to compensate clients of the company. You can read more about Beaufort here.
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