The Department of Justice is probing Tricolor over alleged irregularities related to car loans and has contacted people close to the company in recent weeks, the Financial Times reports, citing two people briefed on the matter.
- One area of focus was whether Tricolor pledged the same collateral on multiple loans, the newspaper says
- Tricolor did not respond to the Financial Times’ requests for comment; the Department of Justice declined to comment to the paper
- NOTE:
Subprime Auto Lender Tricolor Files for Bankruptcy (1)
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