After attending their initial court appearance on May 2, the former CEO and CFO of Cred must enter their plea on May 8.
Three former executives of bankrupt cryptocurrency lender Cred have been charged over allegedly engaging in wire fraud and money laundering prior to the firm declaredbankruptcy in November 2020.
“This prosecution demonstrates our determination to keep our markets free of fraudsters and safe for investors,” the United States Attorney’s Office for the Northern District of California declared in a May 3 statement.
Former CEO Daniel Schatt and CFO Joseph Podulka face 13 charges of wire fraud and money laundering, while CCO James Alexander is charged with four counts.