SEC Charges Three Former Tricolor Executives With Fraud After $1.9 Billion Collapse
The SEC charged Daniel Chu, Jerome Kollar, and Ameryn Seibold, former executives of Texas-based Tricolor Holdings, LLC, over an alleged multi-year scheme to defraud investors in the subprime auto lender [1]. The complaint alleges that from at least 2020 until Tricolor's bankruptcy in September 2025, hundreds of millions of dollars of subprime auto loans were pledged more than once to multiple asset-backed securities offerings and lenders [1]. The SEC said Tricolor raised over $1.9 billion through those offerings while making false and misleading representations to investors [1].
Sources
- sec.gov · SEC Charges Former Executives With Fraud in Connection With $1.9 Billion Collapse of Subprime Auto Lender Tricolor Aug 18, 2026
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