This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Tricolor founder, top executives charged in US with running fraud scheme

( December 17, 2025, 17:08 GMT | Official Statement) -- MLex Summary: Daniel Chu, the founder and former chief executive of Tricolor Holdings LLC, was charged with orchestrating a years-long financial crimes enterprise that defrauded multiple banks and other private credit providers. Chu and David Goodgame, Tricolor's former chief operating officer, were charged with bank fraud and wire fraud offenses for alleged schemes to fraudulently double-pledge collateral to multiple lenders and manipulate the characteristics of collateral to make ineligible, near-worthless assets appear to meet lender requirements. The firm's former finance chief and a finance executive pleaded guilty, and the documents were unsealed.Statement follows below. See attached file....

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Documents

Related Sections