Former Cred exec sentenced to prison for $150 million crypto fraud

For their roles in the $150 million fraud at the Cred crypto lending platform, former CEO Daniel Schatt was sentenced to 52 months in federal prison, and former CFO Joseph Podulka was sentenced to 36 months, with each fined $25,000. Both pleaded guilty in May, admitting to concealing the company's financial difficulties before the 2020 market crash and shifting over 80% of client assets into high-risk lending programs at affiliated companies, resulting in losses for approximately 440,000 users. (Decrypt)