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The Guardian - US
The Guardian - US
World
Guardian staff and agencies

Executives of bankrupt subprime auto lender Tricolor Holdings charged with fraud

Tricolor
cars outside a dealership
A Tricolor dealership in Mesa, Arizona, on 24 September 2025. Photograph: Ash Ponders/Bloomberg via Getty Images

Executives at Tricolor Holdings, the bankrupt subprime auto lender, were charged on Wednesday over their alleged roles in what US prosecutors described as a years-long, “systematic fraud” scheme.

Daniel Chu, the company’s founder and former CEO, was charged in an indictment unsealed in Manhattan federal court with directing multiple executives since 2018 to defraud investors and lending institutions through multiple schemes.

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