Analysis, Credit risk, Life and Health, Non-life, Op Risk, Reinsurance, Risk

Vesttoo’s Interim CEO alleges former executives played central role in $3.4bn letter of credit fraud

Four ex-executives at Vesttoo, alongside employees of China Construction Bank and Standard Chartered, have been implicated in a $3.4bn fraud scheme involving forged letters of credit, according to the firm's first interim bankruptcy report.

Aaron Woolner

September 8, 2023

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3 min read

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