Former IFA among trio charged with fraud
Fund was an unregulated collective investment strategy based in the Cayman Islands
Fund was an unregulated collective investment strategy based in the Cayman Islands
Timothy Schools, the former manager of the failed legal financing fund Axiom, is being investigated by the Serious Fraud Office, International Adviser understands.
Law firm Regulatory Legal is appealing to investors into the suspended Axiom Legal Financing Fund to come forward in order to seek compensation.
A report from the receivers of the Axiom Legal Financing Fund has revealed for the first time the full extent of concerns over the fund’s underlying investments.
Minutes from an Extraordinary General Meeting for the Axiom Legal Financing Fund held last month, have revealed that initial investigations have thrown serious doubts over the validity of some of the underlying loans made by the fund.
A receivership hearing for the troubled Axiom Legal Financing Fund has reportedly been set for next Wednesday.
The Axiom Legal Financing Fund is to be put into receivership by its directors following a Extraordinary General Meeting held in London last night, International Adviser understands.
The directors of the Axiom Legal Financing Fund, which late last month implemented a redemption suspension, have removed the current investment managers from fund.