JP Fund Administration (Cayman) Ltd.

JP Fund Administration (Cayman) Ltd. v. Bullspot Venture Capital Fund SPC: Writ of Summons

May 24, 2019

Writ of Summons in JP Fund Administration (Cayman) Ltd. v. Bullspot Venture Capital Fund SPC, for and on behalf of Sigma, Sigma II, Sigma III, Sigma IV, and Vega segregated portfolios, at the Grand Court of the Cayman Islands.

Xena Investments Ltd. v. Washington Special Opportunity Fund, Inc.: Winding Up Petition

September 18, 2015

Winding Up Petition in Xena Investments Limited v. Washington Special Opportunity Fund, Inc. at the Grand Court of the Cayman Islands.

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.

JP Funds Cayman umbrella fund hit by another major fraud

August 21, 2013

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.

JP SPC 4: Receivership Petition

December 13, 2012

Petition In the Matter of JP SPC 4 at the Grand Court of the Cayman Islands.

Axiom fraud leaves offshore providers exposed to massive claims for damages

November 19, 2012

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: 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.

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.

Axiom Legal Financing Fund: Letter Announcing KPMG Review

October 15, 2012

Letter From Directors of Axiom Legal Financing Fund to Investors, October 15, 2012 regarding red flags raised in investigative articles by OffshoreAlert.

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".