Quinn Emanuel Urquhart & Sullivan offices in Washington, D.C. Sept. 14, 2016. Photo by Diego M. Radzinschi/ALM 'Lifeline' for Fraud?: Chinese Lender Accused in Lawsuit by Quinn Emanuel Lawyers of Facilitating Fintech Scheme
The $140 million lawsuit accuses Chinese Construction Bank Corp. and related entities of issuing the "lion's share" of phony letters of credit that facilitated Vesttoo's alleged multibillion-dollar fraud.
August 28, 2024 at 03:13 PM
3 minute read
Litigation
The original version of this story was published on New York Law Journal
A new $140 million lawsuit filed by Quinn Emanuel Urquhart & Sullivan lawyers accuses one of China's largest commercial lenders of acting as the "lifeline" behind Israeli fintech startup Vesttoo's alleged multibillion-dollar fraud that scandalized the global insurance community with fake letters of credit.
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