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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!