First Brands accuses former CEO of misappropriating millions, perhaps billions
Yahoo Finance·2025-11-04 16:20
By Devika Madhusudhanan Nair (Reuters) -Bankrupt First Brands on Monday sued its former chief executive and founder Patrick James, accusing him of orchestrating frauds that left the U.S. auto parts maker insolvent. James enriched himself and his family by "misappropriating hundreds of millions (if not billions) of dollars from First Brands," the company said in a lawsuit filed with the U.S. Bankruptcy Court for the Southern District of Texas. A lawyer and a separate representative for James did not imme ...