Home Scam/Fraud Insurers Fight $5.2M Damages Bid At Grain Fraud Trial » Scammer News

Insurers Fight $5.2M Damages Bid At Grain Fraud Trial » Scammer News

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By Lucia Osborne-Crowley (January 31, 2022, 5:46 PM GMT) — A Swiss agriculture firm urged a court Monday to award $5.2 million in damages for corn that was lost in a Ukrainian grain scam, arguing that its insurance policy covered goods that were lost due to fraud.

Quadra SA told High Court Judge Christopher Butcher in its opening arguments that five insurers should be forced to cover the damages they suffered when they bought $5.2 million worth of corn that they lost amid a $120 million fraud scandal involving Agroinvestgroup, which broke in 2019.

Jawdat Khurshid QC of 7KBW, representing Quadra, told the court that the policies that it took out…

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