DMS Management (USA) Inc. v. Steven J. Goodman: Complaint
Complaint in DMS Management (USA) Inc. v. Steven J. Goodman at the U. S. District Court for the Southern District of Florida.
British legal regulator takes over Axiom borrower for ‘suspected dishonesty’
A law firm that borrowed at least £8.9 million from Axiom Legal Financing Fund was taken over and closed down today by Britain's Solicitors Regulation Authority, which stated that "there is reason to suspect dishonesty".
Axiom Legal Financing Feeder Fund: First Report of Receivers
First Report of Receivers regarding Axiom Legal Financing Feeder Fund.
Ashton Fox Solicitors Ltd.: Statement of Administrator’s Proposals
Ashton Fox Solicitors Limited - Statement of Administrator's Proposals - Filed with Companies House - May 15, 2013
Cayman judge upgrades powers of Axiom Fund’s Receivers, asks England’s High Court for assistance
The Grand Court of the Cayman Islands has granted the Receivers of Axiom Legal Financing Fund the same powers as liquidators and, separately, asked the High Court of Justice in England and Wales - where much of the Fund's activity occurred - to recognize the receivership.
Auditor resigns from Axiom Legal Financing Fund’s biggest borrower
The auditor of a British law firm that owes Axiom Legal Financing Fund approximately £50 million has resigned, citing problems obtaining sufficient information to perform its task. OffshoreAlert has uncovered evidence calling into question the auditor's independence.
Ashton Fox Solicitors Limited: Auditor’s Resignation Letter
Letter from Saint & Co. to Ashton Fox Solicitors Resignation as Auditor - December 21, 2012
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.
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.
Axiom Legal Financing Fund: Flowchart of Related-Party Transactions Involving Tim Schools
Partial list of related-party transactions between the Axiom Legal Financing Fund and Tim Schools & Related Companies.
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".
