According to OffshoreAlert's own website, Tim Schools is to issue legal proceedings against them for defamation in connection with the claims made recently that the Axiom Legal Financing Fund is a Ponzi scheme and that its investors are victims of fraud.
OffshoreAlert has raised a number of red flags regarding the fund over recent months, but in the last week their publications have included increasingly serious allegations.
Those connected with ALFF have strenuously denied any wrong-doing, and have appointed KPMG to investigate the allegations made. In view of the ramping up of rhetoric on both sides, the investors in the fund will be anxiously awaiting publication of the report, which is expected by the end of the month. There is clearly a great deal at stake.
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