Tricolor Holdings Founder Charged in Massive Fraud
Update: 2025-12-17
Description
Tricolor Holdings Founder Charged in Massive Fraud, Company Files for BankruptcyThe founder of Tricolor Holdings, Daniel Chu, and other executives have been indicted for allegedly defrauding investors and lending institutions since 2018, leading to the companys bankruptcy. Chu is accused of extracting over six million dollars from the company and attempting to hide the fraud. The company owes over nine hundred million dollars to its largest lenders. A news conference is expected to provide more information on the developing story.
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