U.S. prosecutors charged top executives of bankrupt subprime auto lender Tricolor Holdings with what they described as a years-long, "systematic fraud" scheme that sent shockwaves through the banking… [+1768 chars]
Tricolor executives charged with 'systematic fraud' after subprime auto lender roiled banking sector - CNBC
Prosecutors allege senior managers orchestrated schemes that allowed Tricolor to obtain billions of dollars from lenders by misrepresenting collateral.
By:Yun Li
Source:CNBC
Published:
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