Tricolor's founder compared the auto lender to Enron in private call: Feds

On Wednesday, Manhattan federal prosecutors unsealed an indictment against two Tricolor executives. Founder Daniel Chu and COO David Goodgame were charged with "systematically defrauding" lenders. Tricolor's collapse left banks exposed to hundreds of millions in loan losses. By August 2025, top executives of auto lender Tricolor knew they were in trouble: The company had pledged approximately $2.2 billion of collateral to lenders and investors, but only had approximately $1.4 billion of real collat ...