Chinese Bank Faces New Suit Alleging Reinsurance Fraud
By Ganesh Setty
Another group of insurers has accused one of China's largest banks of participating in a "multi-billion-dollar fraud" in the reinsurance market, telling a New York federal court Thursday that the bank, including its New York branch, has refused to honor over $890 million worth of letters of credit.
Complaint attached | Read full article » | Save to favorites »