Investors Rip 'Fictitious' Accounting By Defunct Insurer's CEO
Law360, London (September 23, 2019, 7:36 PM BST) -- Investors in Gable Insurance AG have continued pressing their claims in the High Court in a £1.9 million ($2.3 million) lawsuit that the defunct Liechtenstein company's former chief executive concealed a major fraud to lure investments while he funneled money to a company he owned.
The investors — nine British and offshore holding companies, trusts and individual investors — fought back Thursday against ex-Gable CEO William Dewsall's July defense filing denying that he acted dishonestly.
The investors also challenged Dewsall's assertion that he was under no obligation to disclose that a former financial officer at Gable had stolen more than £1...
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