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3.16847834612415E-05 -0.000799962354712705 -0.00349787460982213 -0.00479977412827623 -0.00399981177356353 -0.00337239031888692 -0.00591344721032733 -0.00655655420137084
Stock impact report

Tricolor Founder Chu Charged Over Alleged Fraud, DOJ Says [Yahoo! Finance Canada]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
(Bloomberg) -- Tricolor Holdings founder Daniel Chu was charged by federal prosecutors with conspiring to defraud lenders and investors of the bankrupt subprime auto company. The indictment accuses Chu and other executives who had worked at Tricolor of operating the company through “systemic fraud.” Tricolor filed for bankruptcy in September after shutting down more than 60 locations across the US Southwest. Most Read from Bloomberg Prosecutors said at Chu's direction, executives repeatedly defrauded lenders through various schemes including “double-pledging” collateral and manipulating the descriptions. They also said Tricolor classified assets pledged for collateral to make “near-worthless” assets appear to meet lenders' requirements. The newly unsealed charges provide the most detailed account yet of misconduct that lenders, investigators, and bankruptcy officials had been trying to untangle since Tricolor's collapse. Bloomberg reported earlier this year that federal prose Show less Read more
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