Two former top executives of the now-defunct crypto lender Cred have been convicted of wire fraud, facing up to 20 years in prison and substantial fines, for their role in a $150 million collapse that left customers devastated. Daniel Schatt, former CEO, and Joseph Podulka, former CFO, admitted to misleading investors by presenting only positive updates about the firm while hiding negative developments leading to their customers’ losses ranging from $65 million to $150 million. The plea deal was reached with federal prosecutors as part of a May 13 court filing in the U.S. District Court for Northern California, where Judge William Alsup accepted the guilty pleas and set sentencing for August 26th.