In First Brands SDNY Case Patrick Tracked by Phone Now Asks Interest on His Cash Bail

In First Brands SDNY Case Patrick Tracked by Phone Now Asks Interest on His Cash Bail by Matthew Russell Lee, Patreon Book Substack SDNY COURTHOUSE, Feb 19 –   After the collapse of First Brands and banks calling themselves the victims despite having continued to do business with them, DOJ in late January announced the unsealing of an Indictment charging PATRICK JAMES of First Brands Group, LLC, and his brother EDWARD JAMES with conspiracy to commit wire fraud and bank fraud, conspiracy to commit money laundering, and multiple counts of wire fraud and bank fraud, in connection with various schemes to defraud lenders regarding the liabilities and financial condition of First Brands.  PATRICK JAMES was charged in an additional count of managing a continuing financial crimes enterprise in connection with the charged schemes.    On February 4 the duo was in the U.S. District Court for the Southern District of New York Magistrates Court on arraignment and bail conditions. Inner City Press live tweeted:  All rise! [Co-defendant repped by former EDNY US Attorney DuCharme, who points out Edward James is not charged in count onr Magistrate Judge Robyn Tarnofsky: How do you plead? Not guilty. Not guilty.  Judge: Is there an agreement on release pending trial? DuCharme for Edward James: The Ohio condition are too restrictive. The Government told us in December he was uo for arrest. His wife has family overseas, but he didn't flee AUSA: There is a flight risk, motive and means. There's $10 billions in losses.  Patrick James faces life in prison, ten year minimum. Edward reported $76 million in assets AUSA: We think he has $110 million - he could sacrifice the $25 million bond. He is looking at accounts in Singapore and Malaysia, where he's from. His letter says he wants hydrotherapy - that is, swimming. He lives in a massive compound  AUSA: They cite Charlie Javice, but that was a smaller fraud, only $175 million.  Judge: He has a pregnant daughter. Why would he leave? AUSA: He could take them with him  DuCharme: In December he was flying arround in private jets. He's got reputable private security. His son's grave is near his home.  They're back Patrick James' lawyer: at least one bank had questions but kept doing business with First Brands More on X for Subscribers here and Substack here On February 19, Patrick James' lawyers at Quinn Emanuel asked Judge Torres to order that his cash bail be put in an interest bearing account, saying "the Government takes no position." The case is USA v. James, et al., 1:26-cr-29 (Torres / Tarnofsky) *** Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron. Feedback: Editorial [at] innercitypress.com Mail: Box 130222, Chinatown Station, NY NY 10013 Reporter's mobile (and weekends): 718-716-3540 Other, earlier Inner City Press are listed here, and some are available in the ProQuest service, and now on Lexis-Nexis.  Copyright 2006-2026 Inner City Press, Inc. To request reprint or other permission, e-contact Editorial [at] innercitypress.com