Express
Former Cred Executives Sentenced in $140 Million Crypto Fraud Case, CEO Receives 52 Months in Prison
Summary: According to Decrypt, a US federal court sentenced two former executives of the crypto lending platform Cred on September 1, 2025: former CEO Daniel Schatt to 52 months in prison and former CFO Joseph Podulka to 36 months. The two had previously pleaded guilty to conspiracy to commit wire fraud, as during the 2020 crypto ...
According to Decrypt, a US federal court sentenced two former executives of the crypto lending platform Cred on September 1, 2025: former CEO Daniel Schatt to 52 months in prison and former CFO Joseph Podulka to 36 months. The two had previously pleaded guilty to conspiracy to commit wire fraud, as during the 2020 crypto market crash, they invested 80% of customer assets in high-risk loans, resulting in 440,000 users losing $140 million (over $1 billion at current prices). The court also ordered both to pay a $25,000 fine each and undergo three years of supervised release.
Tags:
Link: Former Cred Executives Sentenced in $140 Million Crypto Fraud Case, CEO Receives 52 Months in Prison [Copy]
