Singapore

Axiom Legal Financing Fund suspended, investors appear to be victims of fraud

Cayman Islands-domiciled Axiom Legal Financing Fund suspended redemptions and halted new subscriptions yesterday - a result of an investigation into the Fund by OffshoreAlert. Meanwhile, our ongoing investigation suggests that investors - who have invested at least £117 million - are victims of a massive fraud orchestrated by British solicitor Tim Schools and others.
Timothy Schools

More red flags regarding fast-growing Axiom Legal Financing Fund

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.

CFTC v. Nikolai Battoo et al: TRO Motion

Plaintiff's Emergency Ex Parte Motion for Statutory Restraining Order, Asset Freeze, Preliminary Injunction, Expedited Discovery, Appointment of Receiver and Other Equitable Relief in U. S. Commodity Futures Trading Commission v. Nikolai Simon Battoo, BC Capital Group Holdings SA, BC Capital Management LLP, BC Capital Group Global, BC Capital Group Limited, BC Capital Group International Limited, and BC Capital Group SA at the U. S. District Court for the Northern District of Illinois.

SEC v. Tracy Sunderlage et al: Motion for TRO

Motion for Temporary Restraining Order in U. S. Securities and Exchange Commission v. Tracy Lee Sunderlage, Nikolai Simon Battoo, BC Capital Group S.A., and BC Capital Group Limited at the U. S. District Court for the Northern District of Illinois.

Share Charge: Kangda Holdings Company Limited

Charge by Baring Private Equity Asia V Holding (5) Limited over shares in Kangda International Company Limited owned by Kangda Holdings Company Limited, filed at the Grand Court of the Cayman Islands.

IFM Overseas Ltd.: Stop Notice

Stop Notice by GL Asia Mauritius II Cayman Ltd. regarding shares in IFM Investments Ltd. owned by IFM Overseas Limited, filed at the Grand Court of the Cayman Islands.

United Kingdom v. James Onanefe Ibori et al: Application to Enforce Restraining Orders

USA's Ex Parte Application to Enforce and Register Foreign Restraining Orders in connection with an investigation in the United Kingdom into an alleged money laundering scheme by James Onanefe Ibori, former Governor of Nigeria's Delate State, and Bhadresh Gohil, an English attorney, filed at the U. S. District Court for the District of Columbia.

Impro Precision Industries Limited: Stop Notice(2)

Stop Notice by GE Capital Equity Investments Ltd. regarding shares in Impro Precision Industries Limited owned by Impro Development Limited, filed at the Grand Court of the Cayman Islands.

Impro Precision Industries Limited: Stop Notice

Stop Notice by Baring Private Equity Asia V Holding (2) Limited regarding shares in Impro Precision Industries Limited owned by Impro Development Limited, filed at the Grand Court of the Cayman Islands.

In the Matter of InterEnergy Holdings

Stop Notice regarding charge by BW Group Limited over shares of InterEnergy Holdings held by IEH Investments at the Grand Court of the Cayman Islands.

Stanford International Bank: A breakdown of where accounts are located

Account holders in several major offshore financial centers, including the Bahamas, Bermuda, British Virgin Islands and Cayman Islands, had substantial deposits at alleged fraudster Allen Stanford's Antigua licensed Stanford International Bank Ltd., a document obtained by OffshoreAlert shows.

Transfield ER Cape Ltd.: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the British Virgin Islands by Casey McDonald, Bob Yap Cheng Ghee, and Patrick Cowley, as the Foreign Representatives of Transfield ER Cape Limited, at the U. S. Bankruptcy Court for the Southern District of New York.