Cred LLC Former Executives Charged With Conspiracy and Fraud: Report
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- A recent press release states that three former Cred executives have been charged for misleading investors.
- The charges against the defendants include conspiracy, wire fraud, and engaging in illicit financial transactions.
- The executives charged by the Federal grand jury are Daniel Schatt, Joseph Podulka, and James Alexander.
A recent press release revealed that a Federal grand jury charged three former executives of Cred LLC, a San Francisco-based financial services firm that filed for Chapter 11 bankruptcy in 2020. The executives, Daniel Schatt, Joseph Podulka, and James Alexander, were charged with conspiracy, wire fraud, and engaging in illicit financial transactions.
The allegations against these executives were set out in two separate indictments. The first indictment charged Daniel Schatt, Cred’s co-founder and former CEO, and Joseph Podulka, former CFO. They were charged with conspiracy, thirteen counts of wire fraud, and money laundering.
Similarly, the second indictment charged James Alexander, former Chief Capital Officer, with conspiracy, money laundering, wire fraud, and other charges. According to the press release, these executives began m…
The post Cred LLC Former Executives Charged With Conspiracy and Fraud: Report appeared first on Coin Edition.
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