The Vermont Department of Financial Regulation (Vermont DFR) filed suit against Jasbir S. Thandi of Global Century Insurance Brokers (GCIB) and Jaspreet Singh Padda of Quantbridge Capital, LLC (Quantbridge) (collectively the Defendants) on October 30, 2020 in the United States District Court of Vermont. The complaint alleges that the Defendants engaged in a scheme to defraud Global Hawk Risk Retention Group (Global Hawk RRG) of tens of millions of dollars leaving the RRG in a state of severe financial impairment.
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