USA v. JAMES
Case Number:
1:26-cr-00029
Court:
Nature of Suit:
Judge:
Firms
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February 20, 2026
Lender Onset Hits Back On First Brands' $2.9B Fraud Suit
First Brands lender Onset Financial Inc. is slamming a $2.9 billion lawsuit that the embattled auto parts maker brought against Onset in Texas bankruptcy court last month, asserting it is the victim rather than a perpetrator of the fraud that sent First Brands into Chapter 11.
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January 29, 2026
Former First Brands Execs Indicted On Fraud Charges
Patrick James, the founder of bankrupt auto parts maker First Brands Group, and his brother Edward James were indicted by federal prosecutors in New York, who accused the pair of inflating invoices, double pledging collateral and concealing liabilities from lenders.