Axiom fraud leaves offshore providers exposed to massive claims for damages
UPDATE: 20 November 2012
From Offshore Alert –
‘Rockfire Capital received £180,000 from Axiom scheme, not £1 million’, says Liam Kavanagh
Go to: http://www.offshorealert.com/GetDocument.aspx?id=45705
Original Posting Nov 19 2012
According to OffshoreAlert 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.
HIGHLIGHTS
Investment manager kept 50% of all loans issued to British law firms as a “Facilitation Fee”
Insiders had “rape and pillage mentality”, says former group employee
Portland Financial Management invoiced millions of pounds for work that was apparently never done
Insider Dr. Jason Corbett closed down investment manager’s Cayman office and flew off island with all computers and documentation
Axiom’s independent directors are still leading investors to believe the Fund is salvageable
For more on this story go to: http://1My.r.mailjet.com/tNxPI5dN/1OvqvM/fSs0ZD/www.offshorealert.com/dms-cayman-jp-funds-portland-financial-management-turnstone-isle-of-man.aspx
Liam Kavanagh from Rockfire Capital is a criminal do not invest with his firm who were actively involved with the Axiom investment fraud and openly admitted receiving £180,000 http://www.offshorealert.com/GetDocument.aspx?id=45705