Investors in Axiom Legal Financing Fund have until Wednesday to try to block the appointment of KPMG's Kris Beighton and John Milsom as Receivers. Once KPMG is ensconced, it will be extremely difficult, perhaps impossible, to have them removed. For investors, it's time to put up or shut up.
According to someone who attended Axiom's Extraordinary General Meeting in London on December 11, investors were informed that, since appointing KPMG in mid-October to investigate OffshoreAlert's allegations against Axiom and its investment manager, Tangerine Investment Management, Axiom's...
Today's libel complaint by Axiom Legal Financing Fund fraudster Timothy Schools against me and OffshoreAlert at the U.K. High Court is as predictable as it is ineffective.
In 2010, U. S. President Barack Obama signed into law The SPEECH Act, which renders British libel judgments unenforceable in the United States on the grounds that British libel law is "repugnant", which is a view shared by many people around the world, particularly journalists.
The libel law that the United Kingdom has vomited on its current and former colonies is one of the most repulsive pieces of legislation...
In a letter to investors today, Axiom's directors stated that: "We would encourage any party who has evidence as to wrongdoing with respect to the Fund to provide that information to the appropriate authorities."
Yet, over three weeks ago, OffshoreAlert provided the directors with audio recordings of David Rae, Andrew Walsh, and Dale Stephenson, who is Tim Schools' step-son, discussing, inter alia, that the biggest borrower owed the Fund £50 million but had run out of operating cash, that the borrower would still continue to receive "priority funding" if it continued to make payments...
In their most recent letter to investors dated November 14, Axiom Legal Financing Fund's directors stated that an Extraordinary General Meeting will be held in December so that they can "present proposals regarding the continued management of the Fund" that they have received from "interested investment managers", with the possibility of holding a second EGM in January, 2013 to discuss the same thing.
In doing this, the Fund's directors continued to dangle the carrot in front of investors that this Fund is somehow salvageable. However, if KPMG has conducted a credible investigation,...
The bad news is you have been defrauded of your investment in Axiom Legal Financing Fund. Your money has been embezzled by the Fund's controlling person, Timothy Schools, and other insiders. The sooner you accept this, the sooner you can start taking steps to recover some of your losses. The worst thing you can do is hold out any hope that the Fund is going to get back on its feet. Trust me, that's not going to happen. It's inevitable that the Fund will go into liquidation.
The good news is that the level of incompetence, unprofessionalism and negligence by the Fund's advisers and those...
The two-year corruption investigation by the Royal Cayman Islands Police Service into the jurisdiction's Premier, McKeeva Bush, is turning into the sort of incompetent, expensive fiasco that the Cayman Islands and its mother country, the United Kingdom, are known for. For specific details about the latest all-too-predictable buffoonery in Cayman, see an article published recently by Cayman News Service. In a nutshell, it seems like Cayman's Police Commissioner, David Baines, is laying the groundwork for a future announcement that no criminal charges will be brought against Bush,...
The extradition of 65-year-old retired British businessman Christopher Tappin to the USA last Friday sparked off the plethora of nonsense in the British media that seems to rear its parochial head whenever any Brit who wears a suit to work is accused of a financial crime overseas. It makes me embarrassed to be British.
The story almost always seems to go like this: Honest Brit sent to hell-hole U.S. prison where he/she faces imminent death from prison gangs and, if he/she survives that, will spend the rest of his/her life in prison on baseless charges trumped-up by U. S. prosecutors....
For the first time in one public forum, the chiefs of the SEC, CFTC and IRS whistleblower offices will discuss Whistleblowing as a tool to fight financial crime at The 10th Annual OffshoreAlert Conference.
Sean McKessy (SEC), Vince Martinez (CFTC), and Steve Whitlock (IRS) are at the forefront of handling information from insiders about possible securities and tax violations by their employers.
"Never before have there been so many opportunities for those at high levels to report fraud and get compensated for the risks they take in doing so," said panel organizer Eric Havian, a...
A special screening of the tax documentary 'We're Not Broke' will take place at this year's OffshoreAlert Conference, with producers/directors Victoria Bruce and Karin Hayes in attendance.The movie, which premiered at The Sundance Film Festival in January, 2012, tells the story of how big U. S. corporations use offshore structures to avoid U. S. taxes and the protests their actions have triggered.The screening will start at 4.45 pm on Sunday, April 29, 2012 at The Ritz-Carlton, South Beach in Miami Beach, Florida and will be open to all attendees at The 10th Annual OffshoreAlert...
If the U. S. Government's allegations against Switzerland's oldest private bank, Wegelin & Co., are true, i.e. that the bank actively encouraged and helped U. S. taxpayers conceal their assets from the IRS and, it would be logical to assume, their other creditors and victims, the bank represents the worst of the offshore world and it would be convincing evidence that the bank's managers at the time of the conduct were talentless morons.
I use the phrase 'talentless morons' deliberately and carefully. After all, any idiot can make money by engaging in illegal conduct. All it takes is a...
