TOLEDO, Ohio (WTVG) – More than 700 workers at two Ohio manufacturing plants could lose their jobs by April 30 as First Brands Group moves toward permanent closure of its Tiffin and Bowling Green facilities. It comes amid bankruptcy proceedings and federal fraud charges against former company executives.
Earlier this year, federal prosecutors charged First Brands Group founder and former CEO Patrick James and his brother, former senior executive Edward James, with conspiracy to commit wire fraud, bank fraud, and money laundering.
Prosecutors allege the former executives ran a years-long scheme involving fake invoices, double- and triple-pledged loan collateral, and falsified financial statements that hid billions in debt from lenders…