Graham Hampson

  • Home
  • Graham Hampson

JP Funds Cayman umbrella fund hit by another major fraud

The Cayman Islands-domiciled umbrella fund of which the fraudulent Axiom Legal Financing Fund was a sub-fund has been involved in at least two other frauds, OffshoreAlert can reveal. In the latest incident, investors in currency fund Capricorn FXG10 were allegedly swindled out of $26.6 million by British Virgin Islands-domiciled Global Tradewaves Ltd.

Axiom Legal Financing Fund: Affidavit of Yolanda McCoy

Affidavit of Yolanda Banks McCoy, Head of Investments and Securities at the Cayman Islands Monetary Authority, In the Matter of Axiom Legal Financing Fund at the Grand Court of the Cayman Islands.

Three-way battle for control of Axiom Legal Financing Fund

A three-way battle has emerged for control of Axiom Legal Financing Fund, which was exposed as a fraud by OffshoreAlert two months ago. Proposals for receivership, liquidation, and restructuring are scheduled to be heard over two days at the Grand Court of the Cayman Islands starting on January 31, 2013.

JP SPC 1: Receivership Petition

Petition by Ronan Guilfoyle and Graham Hampson to appoint Receivers for Axiom Legal Financing Fund, a portfolio of JP SPC 1, at the Grand Court of the Cayman Islands.

Axiom fraud leaves offshore providers exposed to massive claims for damages

Offshore providers in the Cayman Islands, Isle of Man, and Switzerland face huge liabilities after allowing insiders to loot Axiom Legal Financing Fund of tens of millions of pounds. Those most at risk from being sued by Axiom's eventual liquidators appear to be DMS Group, JP Funds Group, BDO Cayman, and Ogier, all in the Cayman Islands; Turnstone Group, in the Isle of Man; and Portland Financial Management, of Switzerland.

Axiom Legal Financing Fund appears to be a Ponzi scheme

New evidence uncovered by OffshoreAlert indicates that the recently-suspended Axiom Legal Financing Fund is hopelessly insolvent as a result of self-dealing and fraud by insiders. The Cayman Islands-domiciled Fund, which has raised more than £117 million, appears to be a Ponzi scheme.

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.
Timothy Schools

Head of Cayman fund group Tim Schools accused of professional misconduct in UK

The head of a Cayman Islands fund group that claims to manage $160 million, promotes its investments as "low risk" and boasts of "consistent" 12% net annual returns for investors is being prosecuted for alleged professional misconduct in the United Kingdom. British attorney Tim Schools faces 11 allegations, including that he "failed to act with integrity" and "failed to act in the best interests of his clients".