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-0.000126802979870092 0.000285306704707481 -0.000602314154382801 -0.000649865271834018 0.000412109684577393 -0.000950705341575642 0.000285306704707481 0.00234585512759535
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Executives at subprime auto lender Tricolor face fraud charges following bankruptcy [Yahoo! Finance]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: Yahoo! Finance
Tricolor, which went out of business in September, specialized in offering loans and selling used cars to buyers without Social Security numbers or credit histories , often undocumented immigrants. The federal indictment claims that Tricolor founder and CEO Daniel Chu oversaw a scheme to defraud lenders to the tune of billions of dollars. “Fraud became an integral component of Tricolor's business strategy,” said Jay Clayton, US attorney for the Southern District of New York. “The resulting billion-dollar collapse harmed banks, investors, employees and customers.” The indictment, unsealed Wednesday in Manhattan, said that at Chu's direction, “multiple Tricolor executives repeatedly defrauded lenders” with schemes including “double-pledging collateral,” or pledging the same assets to multiple lenders at the same time. The other major defendant in the case is Tricolor's COO, David Goodgame. Two other former executives, Jerome Kollar and Ameryn Seibold, pled guilty and are cooperat Show less Read more
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