First Brands Founder Likely to Plead Fifth in Jefferies Inquiry

First Brands Group founder Patrick James said he’d likely plead his Fifth Amendment right against self-incrimination if compelled to answer questions from Jefferies Financial Group at an upcoming deposition, citing a federal criminal investigation into the bankrupt auto parts supplier.

In a federal court filing in Ohio on Dec. 31, James’ lawyers sought to block subpoenas from Jefferies’ Leucadia Asset Management, which is a major creditor of First Brands through its Point Bonita Capital hedge fund.