US prosecutors charge Tricolor executives over ‘systematic fraud’
Justice department says subprime auto lender defrauded its lenders before its collapse this year
Justice department says subprime auto lender defrauded its lenders before its collapse this year

Lawsuit shows bank flagged ‘serious material weaknesses’ at the Texas auto lender in early 2024

Texas lender’s rapid failure leaves trail of losses and questions in a fast-growing Wall Street market

Potential violations of securities, bank and wire fraud laws under scrutiny in failure of car parts maker

Justice department says lawyers from elite Wall Street firms aided scheme with confidential transaction details

Some creditors want an independent trustee involved in car parts maker’s bankruptcy process

‘Omnibus’ claim comes days before regulator unveils details of mis-selling redress scheme