Timothy Schools, David Kennedy and Richard Emmett are charged with carrying out a fraudulent scheme to divert money from the Axiom Legal Financing Fund for their own benefit.
David Kennedy, a former independent financial adviser, has been charged with one count of fraudulent trading.
Schools, a former solicitor, has been charged with three counts of fraudulent trading, one count of fraud, and one count of transferring criminal property.
Emmett, also a former solicitor, has been charged with one count of fraudulent trading and one count of being concerned in an arrangement which facilitates the acquisition, retention, use or control of criminal property by another.
The SFO announced its investigation on 16 May 2017 and the case will be listed at Westminster Magistrates’ Court on 30th September 2020.
As these are live criminal proceedings, the SFO says it cannot comment further at this stage.
