Archive · 6 Jan 2026
Jefferies Seeks to Question First Brands Founder
Jefferies Financial Group wants to question Patrick James, the founder of First Brands, under oath.
James has said he might use his Fifth Amendment right to avoid answering questions because of a federal criminal investigation.
Jefferies argues that James can't avoid the deposition just because he might plead the Fifth.
First Brands has accused James of misusing company money and selling fake invoices.
Jefferies and others are investigating the company's bankruptcy.
James says he has done nothing wrong and has no relevant information.
A judge will decide on Tuesday whether James has to answer questions.
Jefferies Financial Group is pressing to question First Brands founder Patrick James under oath.
James has indicated he might plead his Fifth Amendment right against self-incrimination due to a federal criminal investigation.
Jefferies argues that James cannot avoid the deposition just because he might invoke the Fifth Amendment.
First Brands has accused James of misappropriating company funds and selling non-existent or doctored invoices.
Jefferies and other creditors are investigating the circumstances around First Brands' September bankruptcy.
- Who
- Patrick James, founder of First Brands, and Jefferies Financial Group
- What
- Legal dispute over deposition and allegations of misappropriated funds
- When
- Court hearing scheduled for Tuesday
- Where
- United States
- Why
- Jefferies seeks information about the creation and sale of invoices relevant to unlocking customer funds
- Founder
- Patrick James
- Company
- First Brands
- Amount Paid
- $715 million
- Investigation
- Federal criminal investigation
- Jefferies Investment
- $43 million (5.9%) in receivables and $2 million in loans