A+ Financial Services Limited

Background Information

With 10 claims against them, the Financial Services Compensation Scheme (FSCS) confirms advice firm in default, after director convicted & jailed for fraud. Hertfordshire based A+ Financial Services Limited (liquidated, October 2018), trading as, Grosvenor Trust & Saving and A-plus, defaults after operating for 20 years. The firm was formed in January 2002, regulated by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) until October 2020. In recent years, A+ Financial Services Limited, also traded as:

A1 Life LLP, Audley Financial Services Limited, D C Thomson Enterprise Finance Limited,
DisabledGo Financial Services Limited, Edited Financial Services Limited,
Grosvenor Wealth Management, MailLife Financial Services Limited, Readers Digest
Financial Services Limited, Temelco Limited & Vivat Finance Limited.

A director of the firm, Stephen Grail has been jailed for 5 years in February of this year, after being convicted for fraud, abuse of position, obtaining property by deception and theft. The amount stolen is to be estimated around £1.65 million figure, between 1997 and 2018, starting 5 years prior A+ Financial Services Limited came into operation. The amount stolen was used to maintain personal lifestyle choices and a failing business.

Stephen Grail operated a ponzi scheme (fraud – luring new investors, which pays profits to earlier investors with funds from new investors) for almost 20 years, claiming funds were being invested (pensions and investment bonds). The crime was disguised by providing victims with false documentation to support rising level of investments and new investments made. Any actual investments that were made were later moved into Grail`s own accounts.

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