David Rae

USA v. Davie Rae: Opinion & Order Denying Relief From $1.8M Criminal Judgment

February 8, 2022

Opinion and Order denying the defendant's application for relief from a $1,775,000 criminal money judgment for his role in "an international medical fraud and money laundering scheme" in USA v. David Rae, a citizen of the United Kingdom, at the U.S. District Court for the District of New Jersey.

Transcript shows British money launderer David Rae lied to obtain lenient sentence

February 25, 2020

A transcript of Briton David Rae's recent sentencing hearing for money laundering at federal court in New Jersey indicates that he lied to obtain leniency, that his lies went unchallenged by prosecutors, and the judge accepted them as fact.

Briton David Rae sentenced for money laundering in US

February 12, 2020

Despite a recommended imprisonment range of 57 to 71 months under a plea agreement, British national David Rae was sentenced at federal court in New Jersey on Friday to "time served" for money laundering and deported back to the United Kingdom.

USA v. David Rae: Sentencing Minutes

February 7, 2020

Minutes of Sentencing for money laundering in USA v. David Rae, a citizen of the United Kingdom, at the U. S. District Court for the District of New Jersey.

USA v. David Rae: Sentencing Hearing Transcript

February 7, 2020

Transcript of the Sentencing Hearing for money laundering in USA v. David Rae, a citizen of the United Kingdom, at the U. S. District Court for the District of New Jersey.

USA v. David Rae: Plea Agreement

December 19, 2019

Change of Plea Minutes and Plea Agreement for money laundering regarding a health care fraud scheme in USA v. David Rae, a citizen of the United Kingdom, at the U. S. District Court for the District of New Jersey.

USA v. David Rae: Forfeiture Judgment

December 19, 2019

Consent Judgment of Forfeiture and Preliminary Order of Forfeiture regarding, but not limited to, funds at ANZ Bank, in New Zealand, in the name of Sympatic Global Solutions LP and at Hong Kong & Shanghai Bank, in Hong Kong, in the name of Cargill Consulting Ltd. in USA v. David Rae, a citizen of the United Kingdom, at the U. S. District Court for the District of New Jersey.

USA v. David Rae: Criminal Indictment (South Carolina)

April 4, 2019

Criminal Indictment in USA v. David Rae, a citizen of the United Kingdom, at the U. S. District Court for the District of South Carolina.

Axiom Legal Financing Fund v. Mayer Brown International LLP: Particulars of Claim

November 12, 2018

Particulars of Claim in JP SPC 1 and JP SPC 4, on behalf of Axiom Legal Financing Fund, of the Cayman Islands, v. Mayer Brown International LLP at the High Court of Justice for England and Wales.

Solicitors Regulation Authority v. Richard Emmett et al: Amended Judgment

October 29, 2018

Amended Judgment in Solicitors Regulation Authority v. Richard Emmett, Lindsay Emmett, Matthew Stokes, Mary Hunter, David Rae, and Dale Stephenson at the Solicitors Disciplinary Tribunal.

Four more British attorneys struck off over Axiom Legal Financing Fund scam

September 19, 2018

Four more solicitors have been struck off in the United Kingdom due to involvement with the Cayman Islands-based Axiom Legal Financing Fund, which defrauded investors of more than £100 million before collapsing in 2012 after being exposed by OffshoreAlert.

Solicitors Regulation Authority v. Richard Emmett et al: Judgment

September 7, 2018

Judgment in Solicitors Regulation Authority v. Richard Emmett, Lindsay Emmett, Matthew Stokes, Mary Hunter, David Rae, and Dale Stephenson at the Solicitors Disciplinary Tribunal.

Solicitors Regulation Authority v. Andrew Lindsay et al: Judgment

January 9, 2018

Judgment in Solicitors Regulation Authority v. Andrew Lindsay and Marina Frankel at the Solicitors Disciplinary Tribunal.

Axiom Fraud: Solicitors Regulation Authority v. David Fenton Wingate et al: Judgment

March 31, 2016

Judgment in Solicitors Regulation Authority v. David Fenton Wingate and Steven Edward Evans by the Solicitors Disciplinary Tribunal.

Axiom Fraud: Solicitors Regulation Authority v. Richard Barnett et al: Judgment

December 22, 2015

Judgment in Solicitors Regulation Authority v. Richard Anthony Barnett and Anthony Augustine Swift at the Solicitors Disciplinary Tribunal.

British swindler Tim Schools settles £108M Axiom Legal Financing Fund fraud complaint

March 6, 2015

British fraudster Timothy Schools has settled a fraud complaint that was filed at the High Court in London by the Receivers of Cayman Islands-domiciled Axiom Legal Financing Fund on behalf of investors who were swindled out of £108 million.

Briton Steven Goodman ‘evades service’ of lawsuit connected to Axiom Legal Financing Fund

October 13, 2014

British attorney and Singapore resident Steven Goodman has been accused of "actively evading service" of a complaint against him in New York for alleged extortion of the Cayman Islands-based DMS Group regarding the fraudulent Axiom Legal Financing Fund.

British attorney Tim Schools struck off for ‘serious misconduct’

July 6, 2014

Timothy Schools, who masterminded the £100 million-plus, Cayman Islands-domiciled Axiom Legal Financing Fund fraud, was struck off as a solicitor in England and Wales on June 27th for professional misconduct.

DMS Management (USA) Inc. v. Steven J. Goodman: Complaint

June 5, 2014

Complaint in DMS Management (USA) Inc. v. Steven J. Goodman at the U. S. District Court for the Southern District of Florida.

Axiom founder Timothy Schools received £81 m of £108 m swindled from investors, claim Receivers

January 28, 2014

British attorney Timothy Schools and entities he wholly or partly beneficially owned received £81 million of the £108 million that was swindled from investors in Cayman Islands-domiciled Axiom Legal Financing Fund, the Fund's Receivers have claimed in an amended complaint filed at the High Court in London.

Axiom Legal Financing Fund v. Timothy Schools et al: Defense of Alan Hutson et al

December 11, 2013

Defense of Alan Hutson, Rachel Hutson, Hut Consulting Limited, and First for Law Limited in JP SPC 1 and JP SPC 4, d.b.a. Axiom Legal Financing Fund, v. Timothy Schools, Dale Stephenson, David Rae, Alec Linsley, David Kennedy, Rachel Hutson, Alan Hutson, Synergy IOM Limited, Synaxus Holdings Limited, Check Mate Audits Limited, Hut Consulting Limited, First for Law Limited, Noble Finance Limited, Sadira Limited, and Loret Investments Limited at the London High Court.

Axiom Legal Financing Fund v. Timothy Schools et al: Claire Schools Freezing Order

November 22, 2013

Worldwide Freezing Order against Claire Schools and Solis International Foundation in JP SPC 1 and JP SPC 4, d.b.a. Axiom Legal Financing Fund, of the Cayman Islands, v. Timothy Schools, Dale Stephenson, David Rae, Alec Linsley, David Kennedy, Rachel Hutson, Alan Hutson, Synergy IOM Limited, Synaxus Holdings Limited, Check Mate Audits Limited, Resolver Claims Management Limited, Hut Consulting Limited, First for Law Limited, Noble Finance Limited, Sadira Limited, and Loret Investments Limited at the London High Court.

Axiom Legal Financing Fund v. Timothy Schools et al: Amended Complaint

November 8, 2013

Amended Particulars of Claim in JP SPC 1 and JP SPC 4, d.b.a. Axiom Legal Financing Fund, of the Cayman Islands, v. Timothy Schools, Dale Stephenson, David Rae, Alec Linsley, David Kennedy, Rachel Hutson, Alan Hutson, Synergy IOM Limited, Synaxus Holdings Limited, Check Mate Audits Limited, Hut Consulting Limited, First for Law Limited, Noble Finance Limited, Sadira Limited, and Loret Investments Limited at the London High Court.

Axiom Legal Financing Fund v. Timothy Schools et al: Defense of David Kennedy

September 20, 2013

Defense of David Kennedy in JP SPC 1 and JP SPC 4, d.b.a. Axiom Legal Financing Fund, v. Timothy Schools, Dale Stephenson, David Rae, Alec Linsley, David Kennedy, Rachel Hutson, Synergy IOM Limited, Synaxus Holdings Limited, Resolver Claims Management Limited, Check Mate Audits Limited, Noble Finance Limited, Sadira Limited, and Loret Investments Limited at the London High Court.

Axiom Legal Financing Fund v. Timothy Schools et al: Defense of David Rae

September 9, 2013

Defense of David Rae in JP SPC 1 and JP SPC 4, d.b.a. Axiom Legal Financing Fund, of the Cayman Islands, v. Timothy Schools, Dale Stephenson, David Rae, Alec Linsley, David Kennedy, Rachel Hutson, Synergy IOM Limited, Synaxus Holdings Limited, Resolver Claims Management Limited, Check Mate Audits Limited, Noble Finance Limited, Sadira Limited, and Loret Investments Limited at the London High Court.

Axiom Legal Financing Fund v. Timothy Schools et al: Defense of Rachel Hutson

August 20, 2013

Defense of Rachel Hutson in JP SPC 1 and JP SPC 4, d.b.a. Axiom Legal Financing Fund, v. Timothy Schools, Dale Stephenson, David Rae, Alec Linsley, David Kennedy, Rachel Hutson, Synergy IOM Limited, Synaxus Holdings Limited, Check Mate Audits Limited, Resolver Claims Management Limited, Noble Finance Limited, Sadira Limited, and Loret Investments Limited at the London High Court.

Axiom Legal Financing Fund v. Timothy Schools et al: Defense of Timothy Schools et al

August 15, 2013

Defense of Timothy Schools, Dale Stephenson,Synergy IOM Limited,Check Mate Audits Limited, Noble Finance Limited, Sadira Limited, Loret Investments Limited in JP SPC 4 and JP SPC 1, d.b.a. Axiom Legal Financing Fund, of the Cayman Islands, v. Timothy Schools, Dale Stephenson, David Rae, Alec Linsley, David Kennedy, Rachel Hutson, Synergy IOM Limited, Synaxus Holdings Limited, Check Mate Audits Limited, Resolver Claims Management Limited, Noble Finance Limited, Sadira Limited, and Loret Investments Limited at the London High Court.

Axiom Legal Financing Fund v. Timothy Schools et al: Defense of Synaxus Holdings

July 24, 2013

Defense of Synaxus Holdings Limited in JP SPC 1 and JP SPC 4, d.b.a. Axiom Legal Financing Fund, v. Timothy Schools, Dale Stephenson, David Rae, Alec Linsley, David Kennedy, Rachel Hutson, Synergy IOM Limited, Synaxus Holdings Limited, Resolver Claims Management Limited, Check Mate Audits Limited, Noble Finance Limited, Sadira Limited, and Loret Investments Limited at the London High Court.

London High Court freezes assets of Timothy Schools over Axiom investment fraud

July 1, 2013

The assets of British attorney Timothy Schools and related parties have been frozen in England by the receivers of Cayman-domiciled Axiom Legal Financing Fund, who are also suing them for £110 million, alleging misappropriation of investors' funds.

Axiom Legal Financing Fund: Receivers’ First Report

June 27, 2013

First Report to investors from Receivers of Axiom Legal Financing Fund, June 27, 2013.

Axiom Legal Financing Fund et al v. Timothy Schools et al: Re-Amdended Claim Form

May 21, 2013

Re-Amended Claim Form in JP SPC 1 and JP SPC 4, collectively doing business as Axiom Legal Financing Fund v. Timothy Schools, Rachel Hutson, David Rae, Alec Linsley, Dale Stephenson, Synergy IOM Limited, Check Mate Audits Limited, Synaxus Holdings Limited, Noble Finance Ltd., Sadira Limited, Loret Investments Limited, David Kennedy, Alan Hutson, Hut Consulting Limited, and First For Law Limited at the High Court in London.

Axiom Legal Financing Feeder Fund: First Report of Receivers

May 15, 2013

First Report of Receivers regarding Axiom Legal Financing Feeder Fund.

British attorney Steven Goodman claims he is owed £25M by now-defunct Tangerine Investment Management

April 13, 2013

British attorney Steven Goodman, who is associated with insiders of the fraudulently-operated Axiom Legal Financing Fund, claims to be owed £25.7 million by the insolvent Fund's former investment manager.

Axiom Legal Financing Fund: Affidavit of Timothy Schools

January 24, 2013

Affidavit of Timothy Paul Schools In the Matter of Axiom Legal Financing Fund at the Grand Court of the Cayman Islands.

Auditor resigns from Axiom Legal Financing Fund’s biggest borrower

January 9, 2013

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.

Three-way battle for control of Axiom Legal Financing Fund

December 22, 2012

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.

Axiom Legal Financing Fund: Minutes of EGM held on December 11, 2012

December 18, 2012

Official Minutes of an Extraordinary General Meeting of shareholders of Axiom Legal Financing Fund held in London on December 11, 2012.

Axiom Legal Financing Fund: Directors’ Update

December 18, 2012

Notice to Investors of Axiom Legal Financing Fund by Directors Ronan Guilfoyle and Graham Hampson, dated December 18, 2012.

Axiom Legal Financing Fund: Letter Re. KPMG Report

November 8, 2012

Letter to investors in Axiom Legal Financing Fund from the Fund's directors regarding the report by KPMG into allegations against the Fund published by OffshoreAlert.

A message to investors of Axiom Legal Financing Fund

November 6, 2012

The bad news is you have been defrauded of your investment in Axiom Legal Financing Fund. The sooner you accept this, the quicker you can start taking steps to recover some of your losses. The good news is that the

Axiom Legal Financing Fund appears to be a Ponzi scheme

November 5, 2012

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.

‘David Rae has done nothing wrong,’ says his attorney

October 29, 2012

Letter to the Editor from attorney Christopher Hutchings criticizing OffshoreAlert's investigation into his client, David Rae, a senior participant in the Axiom Legal Financing Fund fraud.

Axiom Legal Financing Fund: Letter Announcing Suspension of Fund

October 26, 2012

Letter to Investors of Axiom Legal Financing Fund from the independent directors announcing the Fund's suspension, October 26, 2012

More red flags regarding fast-growing Axiom Legal Financing Fund

October 10, 2012

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.

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

August 22, 2012

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".