Replacing Trust with Truth: Private Credit Fraud, UCC Visibility, and Tokenization Controls

Private credit is growing fast—and in many cases it still runs on “trust” across fragmented systems, creating openings for fraud, double-pledging, and costly verification gaps. In this episode, Steven Bowcut talks with Cole Snell, founder of Real Private Credit, about why lending is a trust-and-controls problem, how bad actors exploit UCC filing fragmentation, and how continuous monitoring, explainable scoring, and tokenization can shift the market from “trust” toward “truth.”