A new filing in the Vesttoo bankruptcy case provides a more detailed view of the scale of the alleged fraud.
Tag: Vesttoo
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.
Fintech Vesttoo Seeks Chapter 11 Bankruptcy Protection
Israel-based fintech Vesttoo is seeking Chapter 11 bankruptcy protection in a U.S. court which will enable it to pursue legal action against those responsible for a fake collateral scandal, it said in a statement on Monday.
Israeli AI Startup Vesttoo Sparks a Global Insurance Scandal
A hot Israeli startup promised to use artificial intelligence to spread the risk of insurance policies. Now, Vesttoo is embroiled in scandal thanks to an old-fashioned problem: an alleged multi-billion-dollar fraud involving faked letters of credit.