Aon sued for alleged fraud linked to credit insurance for start-ups, FT reports

Insurance broker Aon is being sued by a trust representing creditors to the bankrupt technology company Vesttoo for alleged fraud over its role in marketing insurance-linked securities, The Financial Times’ Lee Harris reports. A spokesperson for Aon said: “This lawsuit represents a perverse attempt by Vesttoo’s bankruptcy estate to shift responsibility for Vesttoo’s deliberate fraud to Aon, one of the fraud’s biggest victims. Vesttoo has already acknowledged in its own investigative report that executives of the company, along with other co-conspirators, were responsible for the fraud and intentionally sought to mislead Aon and other impacted parties. We will vigorously defend Aon against these meritless claims.”