Daily news, documents and intelligence about Offshore Financial Centers and those who conduct business in them that you will not find anywhere else.

More red flags regarding fast-growing Axiom Legal Financing Fund

October 10, 2012 by David Marchant


  • First audit shows all loans went to law firms affiliated with Fund principal Tim Schools
  • One debt-ridden, Schools-owned law firm received £7.9 m
  • £5.2 m went to law firm whose current owner has a shocking disciplinary record
  • Insurance provided by unregulated, unaudited firm accused of $10 m fraud
  • Flowchart shows how Schools profits from a maze of related-party transactions

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.

Please Subscribe to read this article or Sign In

The Best Offshore Reporting

For Less Than $2 per Day


per Month


The NEW OffshoreAlert Daily

Investigative Financial News

The sooner you learn of news that affects your business or assets, the quicker you can react. Our proprietary news and investigations will help you make better decisions in the cut-throat world of international finance.

  • Breaking News Affecting Offshore Financial Centers
  • Largest Searchable Database of Offshore Information
  • Blogs by Leading Industry Practitioners
  • Intelligence Not Available Anywhere Else



OffshoreAlert encourages lively, open debate and asks that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.


Text Only 2000 character limit
OffshoreAlert Conference London 2015

OffshoreConnect Free Sign Up

Stay informed & connected

  • Free Email Alerts on Breaking News
  • Free Access to Blogs by Industry Leaders
  • Free Contribute to Due Diligence Forums
DOJ Scores Big With Record-breaking Alstom FCPA Sentence -- Who's Next On the DOJ'S FCPA Hit List?
Eric Havian
By   Gordon Schnell      Late Friday, French power and transportation company Alstom S.A. was sentenced to pay a $772 million fine for violating the Foreign Corrupt Practices Act (FCPA) through its payment of millions of dollars in secret bribes to government officials across the gl