Axiom Legal Financing Fund
June
2024
British national David Kennedy sentenced to eight years in prison for Axiom Legal Financing Fund fraud
United Kingdom national David Kennedy, 71, has been sentenced to eight years in prison in England for his role in a £121 million fraud by Cayman Islands-domiciled Axiom Legal Financing Fund, which collapsed after being exposed by OffshoreAlert in 2012.
May
2024
Letter purports to link cyber attack on OffshoreAlert’s website to British fraudster David Kennedy
OffshoreAlert has received a bizarre ‘Cease and Desist’ letter that purports to link last week’s prolonged cyber attack on our website to British investment fraudster David Kennedy, who was criminally convicted in England on May 3rd for his involvement in a £121 million investment fraud perpetrated by Cayman Islands-domiciled Axiom Legal Financing Fund, which collapsed after being exposed by OffshoreAlert in 2012.
May
2024
‘Remove details of David Kennedy’s conviction or I will continue to disrupt your website’, writes ‘Hardpink Legal’
May
2024
Axiom Legal Financing Fund: ‘David Kennedy Fraud Conviction’ (U.K. SFO News Release)
News Release by the United Kingdom’s Serious Fraud Office that, following a re-trial, it had “secured the conviction of former investment manager David Kennedy” for his role in cayman Islands-domiciled Axiom Legal Financing Fund, which collapsed after being exposed as a fraud by OffshoreAlert in 2012.
August
2022
UK SFO News Release: Timothy Schools Conviction & 14-Year Prison Sentence
News Release by the United Kingdom’s Serious Fraud Office announcing that Timothy Schools has been “jailed for 14 years” after being convicted of a “no-win-no-fee fraud” involving entities in the Cayman Islands, England, France, Isle of Man, Marshall Islands, Panama, Spain, and Switzerland.
August
2022
British fraudster Timothy Schools receives 14-year prison sentence for £120M Axiom Legal Financing Fund scam
British fraudster Timothy Schools has been sentenced to 14 years in prison for his £120 million Cayman Islands-domiciled Axiom Legal Financing Fund scam, which collapsed in 2012 after being exposed by OffshoreAlert. Schools, 61, was also disqualified from being a company director for 15 years and will face confiscation proceedings.
August
2022
GOTCHA: OffshoreAlert target Timothy Schools convicted of £120M Axiom Legal Financing Fund fraud
Ten years after OffshoreAlert began exposing his Cayman Islands-domiciled Axiom Legal Financing Fund £120 million investment fraud, causing him to sue us for libel, 61-year-old British national Timothy Schools has been convicted on all five counts against him at Southwark Crown Court, in London, and is in custody pending sentencing on Thursday.
May
2022
Axiom Legal Financing Fund v. Royal Bank of Scotland International Ltd.: Judgment Upholding Case Dismissal (Privy Council)
Judgment Upholding the dismissal of the case by the Isle of Man High Court in JP SPC 1 and JP SPC 4, both of the Cayman Islands, on behalf of Axiom Legal Financing Fund v. Royal Bank of Scotland International Ltd. at the Privy Council of the United Kingdom.
March
2022
£120M Axiom Fund fraud trial begins in England (10 years after being exposed by OffshoreAlert)
Ten years after his £120 million Cayman Islands-domiciled Axiom Legal Financing Fund fraud was exposed by OffshoreAlert, struck-off attorney Timothy Schools has gone on trial for fraud in England, along with another struck-off attorney, Richard Emmett, and a former financial advisor, David Kennedy, all of whom are British.
October
2020
Peter Kells et al v. Friends Provident International Ltd.: Defense
Defense in Peter Kells, of Thailand, and other investors v. Friends Provident International Ltd., of the Isle of Man, at the Isle of Man High Court.
August
2020
Fraud charges brought against three Axiom Legal Financing Fund insiders
Three UK nationals – Timothy Schools, Richard Emmett, and David Kennedy – have been criminally charged with fraud over their involvement with Cayman Islands-domiciled Axiom Legal Financing Fund, whose £100 million litigation funding-based investment scam collapsed after being exposed by OffshoreAlert eight years ago.
July
2020
Peter Kells et al v. Friends Provident International Ltd.: Amended Complaint
Amended Claim Form and Particulars of Claim for damages in excess of £50 million for alleged negligence and misrepresentation regarding the sale of failed investment products, including New Earth Fund, Axiom Legal Financing Fund, LM Group of Funds, Eco Resources Fund, and Kijani Commodity Fund in Peter Kells, of Thailand, and other investors v. Friends Provident International Ltd., of the Isle of Man, at the Isle of Man High Court.
July
2020
Barry Dickinson et al v. Quilter International Isle of Man Ltd.: Amended Complaint
Amended Claim Form and Particulars of Claim for damages in excess of £50 million for alleged negligence and misrepresentation regarding the sale of failed investment products, including New Earth Fund, Axiom Legal Financing Fund, LM Group of Funds, Eco Resources Fund, and Kijani Commodity Fund in Barry Dickinson, of Thailand, and other investors v. Quilter International Isle of Man Limited, f.k.a. Old Mutual International Isle of Man Limited, f.k.a. Nel Britannia International Assurance Limited, f.k.a. Royal Skandia Life Assurance Limited, of the Isle of Man, at the Isle of Man High Court.
June
2020
Creditors apply to wind up Cayman parent of Liechtenstein’s Gable Insurance
Creditors in the British Virgin Islands, England, and Guernsey have applied to wind up the Cayman Islands parent company of insolvent Liechtenstein insurer Gable Insurance AG.
April
2020
Steven Goodman v. DMS Governance Ltd.: Appeal Judgment
Judgment regarding an appeal against a lower court’s dismissal of a claim against a Cayman Islands-based corporate services provider regarding Axiom Legal Financing Fund, described as having committed “a very substantial fraud in which over US$ 120 million … was misappropriated by Tim Schools”, in Steven Goodman, a lawyer specializing in litigation funding v. DMS Governance Limited at the Court of Appeal of the Cayman Islands.
February
2020
Transcript shows British money launderer David Rae lied to obtain lenient sentence
A transcript of Briton David Rae’s recent sentencing hearing for money laundering at federal court in New Jersey indicates that he lied to obtain leniency, that his lies went unchallenged by prosecutors, and the judge accepted them as fact.
January
2020
Axiom Legal Financing Fund: Receivers’ Seventh Report
Seventh Report of the Receivers of Axiom Legal Financing Fund, of the Cayman Islands.
December
2019
Briton David Rae pleads guilty to money laundering in US
U.K. national David Rae, who was exposed by OffshoreAlert in 2012 for his role in a £100 million investment fraud by Cayman Islands-domiciled Axiom Legal Financing Fund, has pleaded guilty to money laundering in New Jersey regarding unrelated health care fraud schemes.
October
2019
Axiom Legal Financing Fund v. Royal Bank of Scotland International Ltd.: Judgment on Summary Judgment Application
Judgment dismissing defendant’s applications for summary judgment and strike out of Amended Particulars of Claim regarding a fraud committed by Cayman Islands-domiciled Axiom Legal Financing Fund in JP SPC 1 and JP SPC 4, both of the Cayman Islands, on behalf of Axiom Legal Financing Fund v. Royal Bank of Scotland International Limited at the High Court of Justice of the Isle of Man.
September
2019
British lawyer George Lonsdale struck off for dishonesty
Yet another British lawyer – George Lonsdale – who was involved with the fraudulent Cayman Islands-domiciled Axiom Legal Financing Fund has been struck off for dishonesty, this time for stealing from an elderly client in an unrelated incident.
July
2019
Steven Goodman v. DMS Governance Ltd. et al: Judgment
Judgment in Steven Goodman v. Dawn Cummings and DMS Governance Limited, both of the Cayman Islands, at the Grand Court of the Cayman Islands.
May
2019
Axiom Legal Financing Fund v. Royal Bank of Scotland International Ltd.: TAL Judgment
Judgment in JP SPC 1 and JP SPC 4, on behalf of the Axiom Legal Financing Fund, of the Cayman Islands v. Royal Bank of Scotland International Limited regarding a Temporary Adocate’s Licence for Stephen Auld QC, at the Isle of Man High Court.
April
2019
Axiom Legal Financing Fund fraudster David Rae arrested in US for ‘money laundering’
U.K. national David Rae, who in 2012 was exposed by OffshoreAlert as one of the main perpetrators of a £100 million investment fraud by Cayman Islands-domiciled Axiom Legal Financing Fund, is in custody in New Jersey after being indicted for money laundering twice in two days in separate US jurisdictions regarding alleged healthcare fraud schemes.
April
2019
Axiom Legal Financing Fund v. Mayer Brown International LLP: Plaintiffs’ Reply
Plaintiffs’ Reply in JP SPC 1 and JP SPC 4, on behalf of Axiom Legal Financing Fund, of the Cayman Islands, v. Mayer Brown International LLP at the High Court of Justice for England and Wales.
February
2019
Axiom Legal Financing Fund v. Mayer Brown International LLP: Defense
Defense in JP SPC 1 and JP SPC 4, on behalf of Axiom Legal Financing Fund, of the Cayman Islands, v. Mayer Brown International LLP at the High Court of Justice for England and Wales.
November
2018
Axiom Legal Financing Fund v. Mayer Brown International LLP: Particulars of Claim
Particulars of Claim in JP SPC 1 and JP SPC 4, on behalf of Axiom Legal Financing Fund, of the Cayman Islands, v. Mayer Brown International LLP at the High Court of Justice for England and Wales.
October
2018
Solicitors Regulation Authority v. Richard Emmett et al: Amended Judgment
Amended Judgment in Solicitors Regulation Authority v. Richard Emmett, Lindsay Emmett, Matthew Stokes, Mary Hunter, David Rae, and Dale Stephenson at the Solicitors Disciplinary Tribunal.
September
2018
Four more British attorneys struck off over Axiom Legal Financing Fund scam
Four more solicitors have been struck off in the United Kingdom due to involvement with the Cayman Islands-based Axiom Legal Financing Fund, which defrauded investors of more than £100 million before collapsing in 2012 after being exposed by OffshoreAlert.
September
2018
Solicitors Regulation Authority v. Richard Emmett et al: Judgment
Judgment in Solicitors Regulation Authority v. Richard Emmett, Lindsay Emmett, Matthew Stokes, Mary Hunter, David Rae, and Dale Stephenson at the Solicitors Disciplinary Tribunal.
July
2018
Axiom Legal Financing Fund v. Mayer Brown International LLP: Claim Form
Claim Form in JP SPC 1 and JP SPC 4, on behalf of Axiom Legal Financing Fund, of the Cayman Islands, v. Mayer Brown International LLP at the High Court of Justice for England and Wales.
February
2018
Eighth British attorney struck off over Axiom Legal Financing Fund fraud
Andrew Lindsay has become at least the eighth British attorney to be struck off due to involvement in the Cayman Islands-based Axiom Legal Financing Fund, which defrauded investors of more than £100 million before collapsing in 2012 after being exposed by OffshoreAlert. Another solicitor, Marina Frankel, was suspended indefinitely.
January
2018
Solicitors Regulation Authority v. Andrew Lindsay et al: Judgment
Judgment in Solicitors Regulation Authority v. Andrew Lindsay and Marina Frankel at the Solicitors Disciplinary Tribunal.
December
2017
SFO v. Timothy Schools: David Marchant’s Witness Statement (Axiom Legal Financing Fund)
Witness Statement provided by David Marchant, Founder, Owner & Editor of OffshoreAlert, to the United Kingdom’s Serious Fraud Office in 2017 in support of the SFO’s criminal investigation and prosecution of Timothy Schools regarding his £120 million Cayman Islands-domiciled Axiom Legal Financing Fund, which resulted in Schools being found guilty of fraud and money laundering by a jury at Southwark Crown Court, in England, in 2022 and receiving a 14-year prison sentence and a 15-year corporate disqualification.
October
2017
Solicitors Regulation Authority v. Richard Kaufman et al: Judgment
Judgment in Solicitors Regulation Authority v. Richard Kaufman, Avram Kelman, and Philip Turner at the Solicitors Disciplinary Tribunal.
March
2017
Solicitors Regulation Authority v. Alan Hutson et al: Judgment
Judgment in Solicitors Regulation Authority v. Alan George Hutson and Rachel Mary Hutson at the Solicitors Disciplinary Tribunal.
January
2017
Serial fraudster Tim Schools back in business as a ‘crisis coach’
Serial fraudster Timothy Schools, who swindled hundreds of investors out of more than £100 million via his Cayman Islands domiciled Axiom Legal Financing Fund, is back in business … as a “crisis coach” At his newly created www.thecrisiscoach.co.uk,
November
2016
Seventh British attorney struck off over Axiom Legal Financing Fund fraud
Paul Stott has become the seventh British solicitor to be struck off due to involvement in the Cayman Islands-based Axiom Legal Financing Fund, which defrauded investors of more than £100 million before collapsing in 2012 after being exposed by OffshoreAlert.
October
2016
Gable Insurance forced into administration in Liechtenstein
Cayman Islands-owned Gable Insurance AG, which provided apparently sham insurance for at least three fraudulent offshore investment schemes, has been taken over by its local regulator in Liechtenstein.
October
2016
Offshore insurer Gable Insurance ordered to stop writing new business
Liechtenstein insurer Gable Insurance, whose Cayman Islands parent is listed on the London Stock Exchange’s AIM and which has provided apparently sham insurance for at least three investment schemes that swindled investors out of more than £200 million, has been ordered to stop writing new business by its local regulator.
September
2016
British attorney Mark Lorrell suspended for misconduct
A British attorney – Mark Lorrell – has been suspended for misconduct while representing clients who, inter alia, were previously involved in a failed take-over of the fraudulently-operated Cayman Islands-domiciled Axiom Legal Financing Fund.
September
2016
Solicitors Regulation Authority v. Mark Lorrell: Judgment
Judgment in Solicitors Regulation Authority v. Mark Lorrell at the Solicitors Disciplinary Tribunal.
August
2016
Sixth British solicitor struck off over Axiom Legal Financing Fund fraud
Christopher Hale has become the sixth British solicitor to be struck off due to involvement in the Cayman Islands-based Axiom Legal Financing Fund, which defrauded investors of more than £100 million before collapsing in 2012 after being exposed by OffshoreAlert.
July
2016
Axiom Fraud: Solicitors Regulation Authority v. Christopher Hale: Judgment
Judgment in Solicitors Regulation Authority v. Christopher Hale at the Solicitors Disciplinary Tribunal.
July
2016
Axiom Fraud: Solicitors Regulation Authority v. Duncan Gibbins et al: Judgment
Judgment in Solicitors Regulation Authority v. Duncan Neil Gibbins, Matthew Roy Edmund Dean, and Nicola Klimkowski at the Solicitors Disciplinary Tribunal.
March
2016
Axiom Fraud: Solicitors Regulation Authority v. David Fenton Wingate et al: Judgment
Judgment in Solicitors Regulation Authority v. David Fenton Wingate and Steven Edward Evans by the Solicitors Disciplinary Tribunal.
December
2015
Axiom Fraud: Solicitors Regulation Authority v. Richard Barnett et al: Judgment
Judgment in Solicitors Regulation Authority v. Richard Anthony Barnett and Anthony Augustine Swift at the Solicitors Disciplinary Tribunal.
May
2015
Tangerine Investment Management Ltd.: Assignment Order
Order authorizing the liquidators of Tangerine Management Limited (in Official Liquidation) to assign various causes of action against Timothy Schools, Dawn Cummings and DMS Offshore Investment Services Limited to Steven Jeremy Goodman at the Grand Court of the Cayman Islands.
May
2015
Axiom Legal Financing Fund: Offer to Purchase Shares
Offer by Robert Merriman to Purchase Shares in Axiom Legal Financing Fund.
March
2015
British swindler Tim Schools settles £108M Axiom Legal Financing Fund fraud complaint
British fraudster Timothy Schools has settled a fraud complaint that was filed at the High Court in London by the Receivers of Cayman Islands-domiciled Axiom Legal Financing Fund on behalf of investors who were swindled out of £108 million.
March
2015
Axiom Legal Financing Fund v. Timothy Schools: Settlement Announcement
Axiom Legal Financing Fund v. Timothy Schools – Settlement Announcement by Receivers Grant Thornton – March 6, 2015