Ex-Cred execs plead guilty to wire fraud over $150M crypto collapse

Executives of bankrupt crypto lender Cred plead guilty to $150M wire fraud

Two former executives of the now bankrupt crypto lending company, Cred, have pleaded guilty to wire fraud as part of the requirements of their plea deal.  The former CEO and CFO of Cred, Daniel Schatt and Joseph Podulka, have pleaded guilty to fraud charges in a federal court. The crypto executives are now facing legal action over their offenses.  Cred execs enter guilty plea Daniel Schatt, Cred’s co-founder and former CEO, and Joseph Podulka, t…

Cred Execs Admit to Fraud After $150 Million Collapse

On May 13, two former leaders of Cred, a collapsed crypto lending firm, admitted to committing wire fraud, according to plea deals accepted by a federal judge in California.

Ex-Cred Executives Plead Guilty to $150M Crypto Fraud Scheme - WorldNL Magazine

In brief Cred’s former CEO and CFO Daniel Schatt and Joseph Podulka face up to 72 months in prison after guilty pleas. The firm collapsed after Bitcoin crashed and a Chinese partner failed to repay a $40M loan. Customers filed over 6,000 claims worth more than $140M in bankruptcy proceedings. Two former top executives of failed crypto lender Cred Inc. pleaded guilty Tuesday to federal charges of wire fraud conspiracy in a case that ultimately co…

Ex-Cred Executives Plead Guilty to $150M Crypto Fraud Scheme

Daniel Schatt and Joseph Podulka admitted to misleading customers before Cred's 2020 collapse erased millions in crypto deposits.

Ex-Cred execs plead guilty to wire fraud over $150M crypto collapse

Former executives of the bankrupt crypto lending service Cred have pleaded guilty to wire fraud and are set to be sentenced on Aug. 26.

Roswell-based plumbing company reports $150k fraud

Roswell Police are investigating a $150,000 theft after the owner of a local plumbing company reported a fraudulent wire transfer May 8.