Federal prosecutors have indicted four former executives of bankrupt subprime auto dealer Tricolor, accusing them of running a multiyear “systemic fraud” scheme.

Founder Daniel Chu, former COO David Goodgame, and executives Jerome Kollar and Ameryn Seibold were charged with defrauding lenders, including “double-pledging” assets to secure multiple loans.

Kollar and Seibold have already pleaded guilty and are cooperating with authorities.

The bankruptcy affected major banks like JPMorgan Chase, Barclays, and Fifth Third, putting nearly $1 billion at risk and highlighting the impact on the credit market, NBC News has reported.

At its peak, Tricolor operated 65 retail centers across several states, employed over 1,500 people, and generated roughly $1 billion annually before the alleged fraud unraveled after an incomplete audit.