Cred

<p>The post <a href="https://coinpedia.org/crypto-live-news/former-cred-executives-indicted-for-wire-fraud-and-mismanagement/" rel="noopener noreferrer nofollow">Former Cred Executives Indicted for Wire Fraud and Mismanagement&nbsp;&nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Three former Cred executives, including co-founder Daniel Schatt, are indicted on charges related to wire fraud and financial mismanagement. A defunct crypto lender, Cred, filed for bankruptcy in 2020 and faced liabilities between&nbsp; $100 million to $500 million. However, the company’s failure led to mishandling of funds and undisclosed and risky lending practices. Current allegations include diverting funds to a Chinese micro-lender and misleading marketing via retail exchange Uphold. Also, a lawsuit against Uphold was dismissed, but there’s a pending class action suit from the creditors.</p>

Former Cred Executives Indicted for Wire Fraud and Mismanagement

CoinPedia News

Altri articoli pubblicati su 4 mag 2024

Peter Brandt Celebrates 50 Years with Bitcoin Forecast

Bitcoin (BTC) Price Peak Yet to Come, Asserts Fundstrat’s Tom Lee: A Deep Dive into Crypto Predic...

Floki Hits 7-Day High, Can FLOKI Surpass Past $0.000343 ATH?

Crypto Prices May 04: Bitcoin Tops $63,000 on Rate Cut Hopes

Ethereum Bounces Back Strongly After $2,871 Support Rejection

Bitfinex Confirms Major Data Breach Impacting Users

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!