OffshoreAlert's recent articles about the offshore-domiciled
Axiom Legal Financing Fund demonstrate the importance of financial due
By knowing where to look for information and how to
interpret it properly, OffshoreAlert produced two substantial articles about
red flags regarding the Fund.
Yet investors all over the world have pumped more than £117
million into the Fund and continue to do so at a rate of £8
million per month, according to its main distributor. And professional service
providers in the Cayman Islands, Isle of Man, and the United Kingdom continue
to do business with it, including Deutsche Bank.
So what gives?
"Either OffshoreAlert has got it completely wrong,
which would be a first, or our articles are merely the latest examples of chronic
due diligence failures by investors and service providers," says David
Marchant, publisher of OffshoreAlert.
"Most of the information published by OffshoreAlert was
in the public domain and, therefore, available to everybody, if you knew where
to look for it and understood its significance."
"It seems obvious that participants couldn't be
bothered to do any due diligence or they tried but come up hopelessly short. Either
scenario is bewildering, given the enormous financial stakes."
At next month's OffshoreAlert Conference Europe in London, Mr.
Marchant will show attendees how to conduct proper financial due diligence in a
session entitled 'How to Identify Red Flags in the Offshore World'.
The general aim of the conference is to supply providers, clients
and investigators of offshore products and services with credible and
up-to-date information to help them make better-informed decisions.
The OffshoreAlert Conference Europe will take place at The May Fair
Hotel, in London, on November 26-27, 2012.
Further information about The OffshoreAlert Conference Europe may be found at www.offshorealert.com/conference/europe2012