Barclays faces £40m lawsuit over breast implant scandal

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Axiom founder sentenced to 14 years in prison over £100m ‘no win, no fee’ investment fraud

Timothy Schools, the founder of Cayman Islands-based Axiom Legal Financing Fund, has been jailed for 14 years for using millions in investors’ cash to finance his own extravagant spending habits. The former lawyer used a network of offshore trusts and bank accounts to siphon off millions invested in his litigation fund to buy £262,543 worth of luxury cars, a £78,000 motor boat, and a £5m shooting and fishing estate in the Lake District.

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Lawyers gearing up for ‘wave of litigation’ due to crypto crash: Furious Brits expected to claim losses back

The collapse in the value of crypto is likely to lead to a raft of claims from UK investors who believe they have lost considerable sums of money after being mis-sold cryptocurrencies and, according to Dan Wyatt of RPC, litigation funders are becoming increasingly confident that they can get crypto class action cases up and running and are keen to establish their reputation in this area.

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Tory backbencher calls on government to close ‘loopholes’ letting London firms work for the Kremlin

Tory backbencher Kevin Hollinrake has called on the government to close the “loopholes” that have allowed UK professional services firms to continue carrying out bankruptcy proceedings on behalf of the Russian state. The Conservative party MP accused accountancy giant Grant Thornton, litigation funder Harbour, and London law firm CMS of undermining the UK’s efforts to “restrict the Kremlin’s access to funds,” by carrying out bankruptcy proceedings against Russian oligarch Alexey Motylev. A spokesperson for Harbour noted that the litigation funder had not been involved in the case since June 2021.

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