First Brands’ New CEO Says Managers Admitted Firm Faked Invoices

First Brands Group founder Patrick James ordered members of the finance department to transfer hundreds of millions of dollars of corporate cash to his personal bank account, a family trust...

By Steven Church, Jonathan Randles · Bloomberg

First Brands Group founder Patrick James ordered members of the finance department to transfer hundreds of millions of dollars of corporate cash to his personal bank account, a family trust and various businesses he controlled, the company’s new chief executive said during testimony in federal court Monday.