Federal prosecutors allege Patrick and Edward James used fake and inflated invoices to persuade lenders to provide billions of dollars in financing to First Brands. Both pleaded not guilty.
Author: Chris Dolmetsch and David Voreacos
First Brands Founder Indicted on Fraud, Conspiracy Charges
Patrick and Edward James were each charged with nine counts, including continuing financial crimes enterprise, wire fraud, bank fraud, conspiracy to commit wire fraud and conspiracy to commit money laundering.