Different Toxic Fund, Same Greedy Advisers: Scattered Axiom Victims Are Trying to Find Each Other

Axiom Victims Group

Martyn Terpilowski’s LM emails have been receiving a lot of attention over the past week. As a result, one victims group organizer thought it would be a good idea to reach out to other victims who are reading this blog. A letter received from that organizer is copied below.

Many LM victims are also victims of another toxic fund known as Axiom Legal Financing. Axiom collapsed only months before LM. According to media reports (see here and here), the fund is alleged to have been a scam. Unsurprisingly, Axiom paid abnormally large commissions and was sold by many of the same advisers who sold LM’s Managed Performance Fund. 

The South China Morning Post recently reported that Axiom was sold by a group of companies owned by CIB committee member Mark Kirkham. His companies are currently under scrutiny for selling a separate toxic litigation fund (Centaur Litigation) without a proper license. Interestingly, one of Kirkham’s advisers, Andrew Wood, is reported to have been selling LM in Thailand without a license (see here).

A Request for Help


May I start by saying how much I appreciated your article on LM and what you are doing with Martyn’s emails on your site.  As an LM victim – thank you and keep it up please!

Not only was I an LM victim but I was caught in Axiom as well.  Well over half my life savings just vanished between the two of them.  Anyway there is a reason I am writing.

Axiom was sold to 2,000 victims pretty much world wide we believe and targeted at older expats by IFAs. Mostly we wanted low risk but were sold high risk. Many of us are pensioners and needed that money to pay for care etc in our old age.  We need to get as much back as possible and have not got enough left for individual legal action.

A few of us have got together as a group and have a UK group action lawyer on the case, but we need more numbers for the legal case to run.  I am sending letters to the press and writing on forums but just do not seem to be able to reach victims. It is a bit like looking for a needle in a haystack!

We have an embryonic website just started www.axiomlegalfinancinggroup.com and I can be reached by victims through info@axiomlegalfinancinggroup.com.

As quite a few of us (expats here in Spain) were sold LM and Axiom together, we wondered if you could give us a little bit of space to run an ‘advert’ for Axiom victims alongside your LM letters from Martyn?  You certainly seem to have the attention of LM victims at the moment!!!

Axiom we know was sold in the UK, Europe, Cyprus, Thailand, Hong Kong, Singapore, The Arab countries and we suspect Australia , New Zealand and possibly America as well.  It is really hard to reach so few people in such a large area, so we need all the help we can get. Anything you can do, or suggest, would be very much appreciated.

Please help us if you can.

PS for LM victims. Our lawyers are looking at starting an LM case shortly for UK/Europe.  If any LM victim wants to send us an email, via the Axiom address above, you will be put on a list. The more names on that list the better the chance the case will run.

6 thoughts on “Different Toxic Fund, Same Greedy Advisers: Scattered Axiom Victims Are Trying to Find Each Other

  1. Monks CM

    Great to see these fraudsters named and shamed, but it’s not just LM and various litigation funds that have robbed expats of their life savings and given illegally working FAs a ‘nice little earner’.

    Here in Chiang Mai and in other Thai expat hubs, even more expats have been the victims of mis-selling over a decade or more by unregistered, illegally-working salesmen. Many of the same group have become LM and Axiom victims as well, and the recently-set up groups at least give those affected some hope.

    However, there’s no-one representing those who’ve been mis-sold the insurance-wrapped, so-called investments touted by offshore product providers such as Friends Life and Skandia through the same dodgy operators. Salesmen got fat on commissions paid in advance and the insurance firms clawed back the commission payments via excessive charges on their poorly performing funds.

    Given that the same salesmen, (including ex Chiang Mai Expat Club President Alan Hall of PFM International, now reputedly operating online from Spain), sold both LM and insurance-wrapped funds, often to the same investor, wouldn’t it be possible to include mis-selling victims as a sub-group to the main LM group?

    A few of those affected in Chiang Mai have been attempting to gain reparation by personally contacting the product providers – with, of course, no success at all. As a larger group affiliated to the BKK LM group they might have more of a chance.

  2. Susan D.

    Oh and Nick, if you wander onto this page, can you get in contact. I’d hate to see SCI go bust and your reputation destroyed in the international teaching market. Some people might be under the impression that you are some stupid fool selling stuff he doesn’t understand. I’d hate that to happen. My husband and I would love to put your future client’s minds at ease. Go on Nick, give us a tinkle.

  3. Axiom Group co-ordinator

    Hi Monks CM
    In the Axiom group, which posted the above ‘advert’ for victims to please come and join us, does have a majority of members who bought through bond providers such as SEB and Skandia etc.

    In Spain, where the group first started, the ‘insurance wrapper’ bond provider investments are very popular for tax reasons and most victims of both Axiom and LM that we come across have used them.

    Victims of both direct sales and bond providers are very welcome to join us.

    1. Monks CM

      Drummond also wrote reams about Alan Hall, his company PFM International and others – they make interesting reading. At present, he’s covering all developments as regards LM. Good man!





      The link below leads to an article by the then editor of Chiang Mai City News .



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