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More red flags regarding fast-growing Axiom Legal Financing Fund

October 10, 2012 by David Marchant

HIGHLIGHTS

  • 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.

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Buttonwood Fraud Victims: Time to Kick Out The Clowns
David Marchant
Investors in the litigation funding criminal enterprise known as Buttonwood Legal Capital, Centaur Litigation and Argentum need to kick out the clowns who are managing the different facets of this hopelessly insolvent group and take control of the situation before