Investors Hit Defunct Insurer's CEO With £1.9M Fraud Suit

Law360, London (June 14, 2019, 4:41 PM BST) -- Investors have sued the former boss of a defunct Liechtenstein insurer for £1.9 million ($2.4 million) in London for allegedly concealing a major fraud to preserve its share price even as a hole grew in the company's books. 

A group of nine British and offshore holding companies, trusts and individual investors filed a fraud claim in the High Court seeking damages from former Gable Insurance AG Chief Executive William Dewsall, whom they accuse of hiding the insurer's true financial position to attract further cash injections. 

Dewsall allegedly failed to disclose that a former financial officer with Hogarth Underwriting Agencies Ltd., a company...

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