Lawyer ran a ‘cashpoint for clients’

A solicitor accused of involvement in an investment fund which left clients £100m out of pocket said his firm merely acted as a ‘cashpoint’ for customers. Lawyers Timothy Schools, 61, Richard Emmett, 48, together with David Kennedy, 69, ran a scheme financing loans to law firms in ‘no win no fee’ cases, jurors heard. More than 500 investors sank cash into the The Axiom Legal Financing Fund scheme which purported to insure lenders against unfinished cases or solicitors going bankrupt,…