Charges Files Against Tricolor CEO and COO
- Paul Mangione
- Dec 22
- 1 min read
December 17, 2025 - United States Attorney for the Southern District of New York, Jay Clayton, announced today the unsealing of an Indictment charging Daniel Chu, the founder and former CEO of Tricolor Holdings LLC, with orchestrating a years-long financial crimes enterprise that defrauded multiple banks and other private credit providers. Chu and David Goodgame, Tricolor’s former COO, are also charged with bank fraud and wire fraud offenses in connection with schemes to fraudulently double-pledge collateral to multiple lenders and manipulate the characteristics of collateral to make ineligible, near-worthless assets appear to meet lender requirements.
