First Brands accuses former CEO of misappropriating millions, perhaps billions
Update: 2025-11-04
Description
First Brands' Bankruptcy: A Billion-Dollar Scandal Unravels - The podcast delves into the major scandal involving First Brands, a bankrupt auto parts company, as it files a lawsuit against its founder and former CEO, Patrick James. The lawsuit accuses James of orchestrating a multi-billion dollar fraud, using fake invoices and creative financing deals to push the company into insolvency. The company's ongoing turmoil, including a committee of independent directors investigating off-the-books financing, and James's own legal motion for an outside fiduciary, add to the unfolding drama. The full story of First Brands' financial collapse and James's role in it is expected to emerge in the coming months.
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