An investment manager for a Cayman Island-based legal financing fund was found guilty of fraudulent trading and money laundering by a London jury.
Timothy Schools, at Axiom Legal Financing Fund, had been accused of dishonestly taking money from the collapsed £100 million ($121 million) vehicle to pay for his luxury lifestyle, the Serious Fraud Office said on Wednesday.
The SFO said Schools had taken £19.6 million of investor money and hid it in offshore bank accounts to finance a luxury ski hotel in France and a shooting estate in England’s Lake District.
“Through a complex web of lies, he attempted ...
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