Letter to OffShore Alert concerning David Rae
- You suggest that our client has been involved in some way in providing false information to the Fund’s professional advisors. Please inform us with detail as to what information has allegedly been provided, to whom and when. You will appreciate that our client cannot address an allegation without being provided with details of the same.
- You suggest that loans have been paid by Axiom to British law firms conditional on payments to “insiders”. Please inform us of the nature of these payments and as to the “insiders” to whom you refer. Likewise, please provide us with details as to the discussions which you suggest may have been held in which Axiom suggested funding would be withheld if such payments were not made.
- "We're taking the allegations seriously," say directors
- Investment Manager has been asked for "detailed response to each allegation"
- KPMG due to report results of its review "before the end of this month"’
- Fund boss Tim Schools "behaved in a manner which was likely to diminish the trust the public places in him and/or the legal profession"
- Third professional disciplinary action brought against Schools since he became an attorney in 1999
- Schools, through his attorney, denies any wrongdoing
- Schools is behind fast-growing fund with business interests in Cayman, Isle of Man and UK”
Published October 29, 2012
Join the discussion — please keep to our Community Guidelines.