First Brands accuses former CEO Patrick James of multibillion-dollar fraud
Update: 2025-11-04
Description
In a shocking turn of events, former CEO Patrick James of bankrupt auto parts company First Brands is accused of a massive fraud scheme, draining nearly all the company's cash. The company filed a lawsuit in Bankruptcy Court, alleging James enriched himself and his family with hundreds of millions, possibly billions, of dollars. The business world is in shock as employees, investors, and suppliers face uncertainty. James has yet to respond to the allegations, and the legal battle is just beginning. Stay tuned as more details emerge.
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