A committee of Vesttoo Ltd. creditors reached an agreement with Chaucer Group Ltd. for a $15.6 million settlement for 82.5% of the assets in a unit of the insurtech in one of a number of claims against the failed company.
Tag: LOC fraud
Aon Calls for Clear Blue’s Lawsuit Over Vesttoo Fraud to Be Dismissed
Aon has filed a motion calling for the New York state lawsuit that fronting specialist Clear Blue Insurance filed against it, in relation to the reinsurance letter of credit (LOC) fraud perpetrated by insurtech Vesttoo, to be dismissed in its entirety.
Vesttoo Creditors’ Plan Outlines Payout of Up to $2.8 Billion
A proposed liquidation plan could see creditors of troubled insurtech Vesttoo Ltd. collect an aggregate of up to $2.8 billion, according to court documents.
Clear Blue Files Legal Action Against Aon Over Vesttoo LOC Fraud Issue
Artemis has learned that fronting specialist Clear Blue Insurance has filed a lawsuit against broking giant Aon, in relation to the reinsurance letter of credit (LOC) fraud perpetrated by insurtech Vesttoo.
Court Approves Vesttoo to Seize $30M from Fraud Accused Co-Founders & Execs
According to a report in the Israeli media, the Tel Aviv District Court has approved Vesttoo to seize approximately $30 million in assets from its two ousted co-founders, as well as the persons that worked to source investors who have been implicated in the letter of credit (LOC) fraud scheme.
Vesttoo Seeks to Recover $200M+ from Co-founders Bertele & Lifshitz
Under-fire Israeli insurtech Vesttoo, which is at the heart of a letter of credit (LOC) fraud scandal, is now claiming hundreds of millions of dollars back from its two ousted co-founders.
Vesttoo Says Fraud Investigation Is Advanced, Confirms Removal of Restraining Orders
Israeli insurtech Vesttoo has confirmed that both the federal court in New York and the courts in Israel have removed temporary restraining orders freezing its assets.