# Sources — Video 7: "The FRAM Financial Kingpins"

Pulled from `CASE_FILE.md`'s citations. Format: outlet name, ready to
paste into the YouTube description at publish time (per
`HYPERFRAMES_VIDEO_PRODUCTION_RUNBOOK.md` § 10.6). Cited by outlet, not
retrieval method.

**U.S. Department of Justice (SDNY)** — https://www.justice.gov/usao-sdny/pr/first-brands-executives-charged-multibillion-dollar-fraud

**IRS Criminal Investigation** — https://www.irs.gov/compliance/criminal-investigation/first-brands-executives-charged-with-multibillion-dollar-fraud

**Pension Benefit Guaranty Corporation** — https://www.pbgc.gov/news/press/pr26-005

**Bloomberg**
- https://www.bloomberg.com/news/articles/2026-01-29/first-brands-founder-patrick-james-indicted-by-us-prosecutors
- https://www.bloomberg.com/news/articles/2026-01-06/first-brands-creditors-allege-kickbacks-on-deals-returning-300
- https://www.bloomberg.com/news/articles/2026-02-03/first-brands-founder-uses-hamptons-home-for-50-million-bond
- https://www.bloomberg.com/news/articles/2026-03-05/first-brands-ex-cfo-is-second-executive-to-plead-guilty-to-fraud
- https://www.bloomberg.com/news/articles/2026-04-30/first-brands-creditor-sues-auditor-bdo-over-missed-red-flags
- https://www.bloomberg.com/news/articles/2026-05-26/first-brands-hit-by-286-million-claim-for-alleged-tariffs-fraud

**Bloomberg Law** — https://news.bloomberglaw.com/bankruptcy-law/first-brands-examiner-runs-out-of-budget-as-fraud-probe-grows

**The Edge Malaysia** — https://theedgemalaysia.com/node/774736

**CNBC** — https://www.cnbc.com/2026/01/29/first-brands-founder-patrick-james-and-his-brother-indicted-for-fraud.html

**CBS News** — https://www.cbsnews.com/news/patrick-james-first-brands-indictment-fraud/

**Fortune**
- https://fortune.com/2025/11/05/first-brands-bankruptcy-founder-allegations-patrick-james/
- https://fortune.com/2025/10/15/jamie-dimon-issues-private-credit-warning-when-you-see-one-cockroach-there-are-probably-more/

**PitchBook** — https://pitchbook.com/news/articles/jamie-dimon-warns-of-more-cockroaches-after-tricolor-first-brands-failures

**Crain's Chicago Business** — https://www.chicagobusiness.com/finance-banking/bdo-says-impossible-detect-fraud-bankrupt-client-first-brands/

**Newsweek** — https://www.newsweek.com/first-brands-group-layoffs-halted-ohio-brankruptcy-11889896

**PLANSPONSOR** — https://www.plansponsor.com/pbgc-guarantees-full-pensions-for-first-brands-workers/

**Yahoo Finance** — https://finance.yahoo.com/news/bankrupt-first-brands-sues-founder-193603074.html

**Funder Intel** — https://www.funderintel.com/post/the-2-3-billion-vanishing-act-first-brands-and-the-factoring-fraud-that-shocked-wall-street

**Restructuring Newsletter** — https://restructuringnewsletter.com/p/off-balance-sheet-factoring

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Court documents referenced directly (see `source_documents/`): filings
from Case No. 4:25-bk-90399 (U.S. Bankruptcy Court, S.D. Texas) and Case
No. 26 Cr. 29 (U.S. District Court, S.D.N.Y.), retrieved via the public
CourtListener/RECAP archive.
