Vesttoo CEO breaks silence after alleged fraud and collapse at fintech company
The Vesttoo board of directors officially fired Bertele and Chief Financial Engineer Alon Lifshitz last week. This decision came in light of the investigation by financial and risk advisory Kroll, which looked into the alleged fraud at the fintech company.
Founded in 2018, the Israeli company filed for Chapter 11 bankruptcy protection in a Delaware court last month, and has since laid off staff, closed offices and appointed an interim chief executive following the discovery of fraudulent letters of credit used on its platform.
Vesttoo is the world’s first marketplace for non-catastrophe insurance-based risk transfer and investments, using proprietary AI-based technology to facilitate risk transfer between insurance companies and institutional investors.
Read more in Calcalist.
