Three ex-Cred executives, including co-founder Daniel Schatt, face indictments for wire fraud and mismanagement amidst the company's 2020 bankruptcy, involving $100-$500M liabilities and risky lending practices.
Former Cred executives, including Daniel Schatt, face indictment over wire fraud and financial mishandling charges after the defunct crypto lender Cred filed for bankruptcy with liabilities up to $500 million, amid allegations of mismanaged funds and risky lending practices.
Cred co-founder and former CEO Daniel Schatt, along with former CFO Joseph Podulka and Chief Capital Officer James Alexander, face indictment by the U.S. Attorney's Office in Northern California for wire fraud charges.