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.