Drink Maker Sues Chinese Bank For 'Fraudulent' £20M Deal

Law360, London (October 16, 2020, 4:54 PM BST) -- A producer of health drinks has sued the Shanghai Commercial & Savings Bank after a business development manager at the lender allegedly arranged a fraudulent £20 million ($26 million) investment that cost the company a sponsorship deal with tennis star Andy Murray.

Vegesentials Ltd., which developed a chicory root drink known as FibreWater, is looking to claim damages in the High Court for deceit from the Taiwan-based bank.

The drinks producer said in a Aug. 28 filing, which was recently made public, that a former business development manager at the bank fraudulently arranged a £20 million investment in August 2017 in the company...

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