Daniel Schatt and Joseph Podulka, executives of crypto lender Cred, have been sentenced to 52 and 36 months respectively for their involvement in a wire fraud conspiracy that misled investors about the company's financial health. The fraudulent activities, which began during the early stages of the COVID-19 pandemic, led to losses exceeding $1 billion. Despite knowing about Cred’s financial struggles, the executives falsely assured the public that operations were normal. Their prison terms begin on October 28, with a restitution hearing set for October 7.
Continue to read Federal Prison Sentences for Cred Executives in Major Crypto Fraud Case
Daniel Schatt and Joseph Podulka, executives of crypto lender Cred, have been sentenced to 52 and 36 months respectively for their involvement in a wire fraud conspiracy that misled investors about the company's financial health. The fraudulent activities, which began during the early stages of the COVID-19 pandemic, led to losses exceeding $1 billion. Despite knowing about Cred’s financial struggles, the executives falsely assured the public that operations were normal. Their prison terms begin on October 28, with a restitution hearing set for October 7.
Continue to read Federal Prison Sentences for Cred Executives in Major Crypto Fraud Case
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