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Axiom Fraud Victims: Watch how some of your money was squandered

October 13, 2013 by David Marchant 2 Comments

As a video entitled "Tim & Claire Highlights" shows [video hurriedly removed from Vimeo after publication of this blog, see Footnote], British fraudster Timothy Schools liked nothing better than to 'play the big man' with the tens of millions of pounds that he swindled from investors in Axiom Legal Financing Fund from 2009 to 2012.

Taken on March 19, 2011, the video shows Schools entertaining his family, friends, and associates to champagne and fine-dining at a luxury ski hotel in the French Alps that he owned - all bought and paid for by Axiom's cheated investors, of course.

The occasion doubled as Schools' 50th birthday party and his 'surprise wedding' to long-time girlfriend Claire Schools, who co-owned companies and at least one personal bank account into which investors' misappropriated funds were funneled.

Several people who worked for companies that profited handsomely from the Axiom scheme were in attendance, wining and dining at the expense of pensioners and other investors who were collectively defrauded of more than £100 million.

Apart from Tim and Claire Schools, there's his step-daughter, Sara Stephenson (49 seconds in, wearing a red dress); his daughter, Lisa Schools (51 sec., drinking champagne); attorney Alan Hutson (1 min. 23 sec., gray-hair, leaning against a pillar and again at 5 min. 8 sec. on far right); attorney Richard Emmett (1 min. 46 sec., on right in gray suit with hands above his head clapping); Tim Schools' brother, Kevan Schools (3 min. 13 sec., making a speech); and his step-son, Dale Stephenson (4 min. 25 sec.). At Axiom, nepotism was the order of the day. Two of Tim Schools' nephews were also on the payroll, as was his step-son's fiancee, Rebecca Cowle, according to a source.

When watching and listening to Dale Stephenson's particularly obnoxious and immature comments from 4 min. 25 sec. to 4 min. 42 sec., bear in mind that he held a senior position within the Axiom scheme and, 15 months after this junket in France, he was caught discussing and laughing about the Axiom fraud in a telephone conversation with two accomplices - an audio recording of which is in OffshoreAlert's possession.

The highly-proficient wedding singer who can be heard singing Etta James' Grammy Award-winning song "At Last" at the beginning of the video and makes her first visual appearance at 1 min. 19 sec. was flown in from Canada especially for the extravaganza. After all, when you're spending other people's money, who cares about the cost?

At 1 min. 41 sec. into the video, Tim Schools announces to his guests (who thought they were attending only a birthday party) that "I've got a big surprise for you." No, the surprise wasn't that "I've decided to go straight" but that "We're about to get married." However, even this might have been another of his many lies. According to a source, he and Claire Schools actually tied the knot in the grim surroundings of a register office in the north of England two days earlier.

The lavish wedding ceremony in France - in both English and French, no less - appears to have been a charade. Much like Axiom itself.

Footnote: The video was produced by the Luton-based ATP Group and, for the last two years, copies were publicly-available in two separate parts of the video-sharing web-site known as Vimeo, where they had been uploaded by ATP Studios and ATP Media. Within hours of this blog first being published, both copies of the video had been removed from public view, presumably at the request of the Schools family. As such, the link at the beginning of this blog no longer goes to the video.

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  • Electriclantern
    By Electriclanternon Saturday, January 11, 2014 5:38:19 PM

    What can steps can I take to recover my capital invested in Axiom ?

    • Electriclantern
      By Electriclanternon Saturday, January 11, 2014 5:53:24 PM

      Any news on EEA Fund Management Guernsey Life Settlements which has also been suspended ? Should we expect a similar outcome to axiom ?

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