SEC News and CryptoBriefing both report the SEC's fraud lawsuit against Tricolor's Daniel Chu, Jerome Kollar, and Ameryn Seibold, but they give different start dates for the alleged scheme.
SEC News and CryptoBriefing both report the SEC's fraud lawsuit against Tricolor's Daniel Chu, Jerome Kollar, and Ameryn Seibold, but they give different start dates for the alleged scheme.
What all sources agree on
- The SEC filed a civil lawsuit against Daniel Chu, Jerome Kollar, and Ameryn Seibold, former executives of Tricolor Holdings.
- The complaint was filed in the U.S. District Court for the Southern District of New York.
- The lawsuit alleges double-pledging of auto loan collateral across multiple asset-backed securities offerings and misrepresentations to investors about Tricolor's financial health.
- The U.S. Attorney's Office for the Southern District of New York brought parallel criminal charges against Chu, Kollar, and Seibold, announced in December 2025.
- Tricolor's collapse led to bankruptcy proceedings in September 2025.
Where the reports disagree
1Start date of the alleged fraud scheme
from at least 2020 through Tricolor's bankruptcy in September 2025
The scheme allegedly ran from 2018 to 2025, a seven-year window
What would settle it: The SEC's complaint as filed in the U.S. District Court for the Southern District of New York.
What to make of it
Treat the existence and core allegations of the SEC lawsuit against Chu, Kollar, and Seibold as established, but do not treat either the 2018 or 2020 start date for the alleged fraud as settled until the underlying SEC complaint is checked directly.
Treat the existence and core allegations of the SEC lawsuit against Chu, Kollar, and Seibold as established, but do not treat either the 2018 or 2020 start date for the alleged fraud as settled until the underlying SEC complaint is checked directly.
