AN ALMERIAN pensioner who lost over €110,000 to two ponzi schemes is searching for an estimated 14,000 fellow victims to join her legal battle.
Liz Turner, 67, has been coordinating the victim network Axiom Legal Financing Group for more than a year after the Axiom Legal Financing Fund – valued at over €125 million – collapsed in December 2011.
Turner, originally from Lincolnshire, is now also taking on the same task in fighting the Australian based scheme, LM, valued at over €260 million with 12,000 victims worldwide.
After moving to Spain in 2005, Turner found herself the victim of the two separate ponzi schemes and is fighting both companies for justice.
“We are talking about a frightening amount of money for legal costs. The only way we can afford it is if we all get together and support one another, financially and morally,” Turner told the Olive Press.
“Most of us don’t have enough money left to take the case to court ourselves, we must cover the costs together as nobody can afford to lose any more money.”
Lawyers from UK firm Slater and Gordon say group needs to find 150 victims before they can take Axiom to court.
So far the group has 60 members, predominantly from northern Spain, but Turner is convinced that there are more victims in the south.
She said: “We have started to find people, it has been a slow process, but we will continue to look. There will definitely be a large number of victims from the south of Spain, we just need to reach out to them, or for them to get in contact with us.
“It is hard to find so many people scattered across the globe. We need all the help we can get.”
A spokesperson from offshorealert.com – an online financial advisory service – said the two ‘masterminds’ behind the Axiom scam had ‘gone underground’.
To contact the group visit www.axiomlegalfinancinggroup.com or email [email protected]