UK Serious Fraud Office charges three men in Axiom Fund investigation
Timothy Schools, David Kennedy and Richard Emmett are charged with carrying out a fraudulent scheme to divert money from the Axiom Legal Financing Fund for their own benefit.
The UK Serious Fraud Office (SFO) today announces that it has charged three individuals with multiple offences in connection with its investigation into the collapse of the Axiom Legal Financing Fund. Timothy Schools, David Kennedy and Richard Emmett are charged with carrying out a fraudulent scheme to divert money from the Axiom Legal Financing Fund for their own benefit.
Timothy Schools, a former solicitor, has been charged with three counts of fraudulent trading, contrary to Section 993(1) of the Companies Act 2006, one count of fraud, contrary to Section 1 of the Fraud Act 2006, and one count of transferring criminal property, contrary to Section 327(1)(d) of the Proceeds of Crime Act 2002.
David Kennedy, a former independent financial adviser, has been charged with one count of fraudulent trading, contrary to Section 993(1) of the Companies Act 2006.
Richard Emmett, a former solicitor, has been charged with one count of fraudulent trading, contrary to Section 993(1) of the Companies Act 2006, and one count of being concerned in an arrangement which facilitates the acquisition, retention, use or control of criminal property by another, contrary to Section 328(1) of the Proceeds of Crime Act 2002.
The case will be listed at Westminster Magistrates’ Court on September 30, 2020.
The SFO announced its investigation into the collapse of Axiom Legal Financing Fund in May 2017.
