{"id":34709,"date":"2025-11-10T12:29:12","date_gmt":"2025-11-10T12:29:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/34709\/"},"modified":"2025-11-10T12:29:12","modified_gmt":"2025-11-10T12:29:12","slug":"tricolors-frantic-end-was-sparked-by-a-phone-call-from-jpmorgan","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/34709\/","title":{"rendered":"Tricolor\u2019s Frantic End Was Sparked by a Phone Call From JPMorgan"},"content":{"rendered":"<p>Daniel Chu was in Italy, a world away from the sweltering Texas car lots he had built his fortune on, when his phone lit up.<\/p>\n<p>It was a banker at JPMorgan Chase, the firm that had lent hundreds of millions of dollars to his used-car business, Tricolor Holdings, helping transform it into a sprawling empire across the US southwest.<\/p>\n<p>There\u2019s a problem, the voice on the line said, a big problem. It\u2019s the collateral backing the loans, the banker explained, there are red flags everywhere, and we need to talk, face to face.<\/p>\n<p> <img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/11\/1762777752_973_\" data-size=\"embedded\"\/>  <\/p>\n<p>Daniel Chu<\/p>\n<p>Photographer: Arturo Olmos<\/p>\n<p>Chu caught a flight &#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"Daniel Chu was in Italy, a world away from the sweltering Texas car lots he had built his&hellip;\n","protected":false},"author":2,"featured_media":6200,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[20607,5590,20600,18800,20603,20610,9972,20598,20597,20604,9207,20599,20601,20608,20602,9,56,63,65,64,1653,20606,20609,14166,20605],"class_list":["post-34709","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-accounting-misconduct","tag-acquisitions","tag-bankruptcy-trustees-and-examiners","tag-bonds","tag-car-title-loans","tag-civil-monetary-penalties","tag-commercial-debtor","tag-corporate-officers","tag-credit-markets","tag-credit-rating","tag-deportation","tag-esg","tag-interest-rates","tag-international-banking","tag-loan-collateral","tag-new-york","tag-ny","tag-nyc","tag-nyc-headlines","tag-nyc-news","tag-private-equity","tag-securities-fraud","tag-student-athletes","tag-subprime-lending","tag-underwriting"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/34709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=34709"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/34709\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/6200"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=34709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=34709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=34709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}