Axiom Legal Financing Fund: Receivers’ Seventh Report
Seventh Report of the Receivers of Axiom Legal Financing Fund, of the Cayman Islands.
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.
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.
British legal regulator takes over Axiom borrower for ‘suspected dishonesty’
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".
British law firm owes Axiom Legal Financing Fund £61M, says administrator
Insolvent Ashton Fox Solicitors owes failed Cayman Islands-domiciled Axiom Legal Financing Fund "approximately £60.8 m" but that is only an estimate "due to the paucity of the Company's accounting records", reported the law firm's joint administrator on May 15.
Axiom fraud leaves offshore providers exposed to massive claims for damages
Offshore providers in the Cayman Islands, Isle of Man, and Switzerland face huge liabilities after allowing insiders to loot Axiom Legal Financing Fund of tens of millions of pounds. Those most at risk from being sued by Axiom's eventual liquidators appear to be DMS Group, JP Funds Group, BDO Cayman, and Ogier, all in the Cayman Islands; Turnstone Group, in the Isle of Man; and Portland Financial Management, of Switzerland.
Axiom Legal Financing Fund appears to be a Ponzi scheme
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.