Bent lawyer behind bars for swindling investors out of £25m

A corrupt solicitor who lived a life of luxury on an estate in Cumbria as he fleeced investors out of more than £25m is facing jail. Timothy Schools, 61, ran a scheme financing loans to law firms in ‘no win no fee’ cases between December 2008 and October 2012. More than 500 investors sank cash into the The Axiom Legal Financing Fund scheme, which claimed to insure lenders against unfinished cases or solicitors going bankrupt. Schools received £19.5m from the…