Richard Emmett

GOTCHA: OffshoreAlert target Timothy Schools convicted of £120M Axiom Legal Financing Fund fraud

August 9, 2022

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.

£120M Axiom Fund fraud trial begins in England (10 years after being exposed by OffshoreAlert)

March 31, 2022

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.

Fraud charges brought against three Axiom Legal Financing Fund insiders

August 21, 2020

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.

Axiom Legal Financing Fund v. Mayer Brown International LLP: Particulars of Claim

November 12, 2018

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.

Solicitors Regulation Authority v. Richard Emmett et al: Amended Judgment

October 29, 2018

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.

Four more British attorneys struck off over Axiom Legal Financing Fund scam

September 19, 2018

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.

Solicitors Regulation Authority v. Richard Emmett et al: Judgment

September 7, 2018

Judgment in Solicitors Regulation Authority v. Richard Emmett, Lindsay Emmett, Matthew Stokes, Mary Hunter, David Rae, and Dale Stephenson at the Solicitors Disciplinary Tribunal.

Solicitors Regulation Authority v. Alan Hutson et al: Judgment

March 24, 2017

Judgment in Solicitors Regulation Authority v. Alan George Hutson and Rachel Mary Hutson at the Solicitors Disciplinary Tribunal.

Axiom Fraud Victims: Watch how some of your money was squandered

October 13, 2013

As this video shows, British fraudster Timothy Schools liked nothing better than to 'play the big man' with the tens of millions of pounds that he swindled from investors in Axiom Legal Financing Fund from 2009 to 2012.

Insolvent Axiom borrower transferred £3.2 m to Switzerland as Fund collapsed

August 30, 2013

New details have emerged of apparent asset-stripping by an insolvent British law firm - Rohrer & Co Limited - that owes Cayman Islands-domiciled Axiom Legal Financing Fund £8.3 million.

Rohrer & Co.: Statement of Administrator’s Proposals

August 16, 2013

Statement of Administrator's Proposals for Rohrer & Co., formerly Bracewell Law, at the High Court of Justice, Chancery Division.

British legal regulator takes over Axiom borrower for ‘suspected dishonesty’

July 3, 2013

A law firm that borrowed at least £8.9 million from Axiom Legal Financing Fund was taken over and closed down today by Britain's Solicitors Regulation Authority, which stated that "there is reason to suspect dishonesty".

Axiom Legal Financing Fund appears to be a Ponzi scheme

November 5, 2012

New evidence uncovered by OffshoreAlert indicates that the recently-suspended Axiom Legal Financing Fund is hopelessly insolvent as a result of self-dealing and fraud by insiders. The Cayman Islands-domiciled Fund, which has raised more than £117 million, appears to be a Ponzi scheme.

More red flags regarding fast-growing Axiom Legal Financing Fund

October 10, 2012

As investors continue to pour millions of pounds each month into Cayman Islands-domiciled Axiom Legal Financing Fund, OffshoreAlert has uncovered more red flags, including conflicting financial statements, £7.9 million loaned to a debt-ridden law firm owned by Axiom's principal, and insurance provided by an unregulated, unaudited firm that is currently defending a fraud lawsuit brought by one of its clients.

Timothy & Claire Schools: Wedding Video

March 19, 2011

PLAYING THE BIG MAN (WITH VICTIMS' MONEY): This video, taken on March 19th, 2011, shows British lawyer and former policeman Timothy Schools entertaining his family, friends, and associates to champagne and fine-dining at a luxury ski hotel in the French Alps that he co-owned - all bought and paid for with some of the tens of millions of dollars that he swindled from investors in Axiom Legal Financing Fund, a litigation funding-based investment scam he started two years earlier. The occasion was Schools' 50th birthday and his marriage to Claire Schools, who was also involved with Axiom. Several other participants in the scam were in attendance, including Richard Emmett, Dale Stephenson, and Alan Hutson.

Sphere Drake Insurance Ltd.: Chapter 15 Petition (England)

July 22, 2008

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the United Kingdom by PRO Insurance Solutions Limited, as the Foreign Representative of Sphere Drake Insurance Limited, at the U. S. Bankruptcy Court for the Southern District of New York.