JP Funds Group

    • Home
    • JP Funds Group

    SHOWING:

    1 to 3 of 3 results
      

    Sort By:

    Search

    Filter By:

    Topics

    show more show less

    Jurisdictions

    show more show less

    Allegations

    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 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.