Vesttoo, an Israeli startup that aims to use artificial intelligence in the insurance industry, filed for bankruptcy in the U.S. Monday after being accused of acting as a conduit for a multibillion-dollar fraudulent scheme involving faked letters of credit.
The Federal Bureau of Investigation, several state insurance commissioners, and the Bermuda Monetary Authority are conducting probes into the matter, The Wall Street Journal reported earlier this month. White Rock, a subsidiary of insurance giant Aon that conducted business…
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