Laura WilesThe FCA has begun criminal proceedings against Anthony Hay, Laura Hay, Tim Stewart, Premier Finance GB Ltd and Proserv GBR Limited, for allegedly engaging in authorised business.
The individuals are jointly charged in relation to their involvement in the conduct of the two firms, and the sale of high-end luxury vacuum cleaners retailing for up to £3,000. Between 1 April 2014 and 31 March 2023, the firms allegedly generated at least £4m from unlawful business activities involving thousands of customers.
Anthony and Laura Hay were directors, and Tim Stewart was the compliance manager of the firms. The individuals are accused of engaging in regulated credit agreements, hire agreements and contracts for insurance, and the firms collected money from credit and hire customers, without the required FCA authorisation.
The case will appear before Westminster Magistrates’ Court on 7 November 2024.