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!
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.