Company: Vesttoo Page 1 / 1
- October 24 2023
The troubled insurtech, which the creditors' motion said is "viewed as the Madoff of insurance", is to file a response and expects the Bankruptcy Court to rule in November.
- September 7 2023
Vesttoo investigation blames CEO, 3 senior execs, China Construction Bank and Standard Chartered staff for fraud
Interim CEO says it plans to sue the former employees named in the report and the Chinese bank, according to a first interim report with the US court identifying the people behind the forged letters of credit.
- August 15 2023
The move will provide the Israeli insurtech protection from its creditors and breathing room to pursue legal actions, the company claims.
- August 4 2023
The fallout is unlikely to affect Asia cedents but could create capacity constraints for MGAs and reputational damage in the insurtech and ILS spaces.
- July 20 2023
Forged letters of credit issued by the Chinese lender is revealed to have been used by investors for ILS transactions on the insurtech platform.