In this episode, Emilio Figueroa, CEO of Indemnity Labs, and Dario Luna, Managing Partner of Akua Capital, join Gilad Shai to discuss the latest development (August 8, 2023) in the Vesttoo unfolding drama - a drama around a fake letter of credit (LOC) involving China Construction Bank and the impact it had on the ILS marketplace and exposure on the Corinthian Group and others.

⚠️ The facts are not clear! The information that we have is based on information published by newspapers.

There are audits in place and an FBI investigation.

Between the recording of this episode and its publishing, Vesttoo's board named Ami Barlev, a board member, as interim CEO.

Chapters:

0:15 Malta, Gibraltar, and Bermuda

2:56 Vesttoo part two

9:20 Due Diligence

13:30 Crisis response

15:13 Control and Anti-fraud measures

20:00 Board of Directors - Proactive instead of Reactive

24:02 Being optimistic - rebuild

29:12 Web3 and trust

32:00 Rating agencies