FirstPlus Financial Group was a

Texas Texas ( , ; or ) is the most populous U.S. state, state in the South Central United States, South Central region of the United States. It borders Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the we ...

-based mortgage company. In 2011, a number of indictments and other legal actions showed that the firm had been taken over by

Lucchese crime family The Lucchese crime family (pronounced ) is an Italian Americans, Italian American American Mafia, Mafia crime family and one of the "Five Families" that dominate organized crime activities in New York City and New Jersey, within the nationwide c ...

by the use of threats and violence. They were able to remove the firm's entire board of directors and managers, replacing them with their own. At one point, the company had

Vice President A vice president or vice-president, also director in British English, is an officer in government or business who is below the president (chief executive officer) in rank. It can also refer to executive vice presidents, signifying that the vi ...

Dan Quayle James Danforth Quayle (; born February 4, 1947) is an American retired politician who served as the 44th vice president of the United States from 1989 to 1993 under President George H. W. Bush. A member of the Republican Party (United States), ...

as a members of its (legitimate) board of directors. American football player

Dan Marino Daniel Constantine Marino Jr. ( ; born September 15, 1961) is an American former professional American football, football quarterback who played in the National Football League (NFL) for 17 seasons with the Miami Dolphins. He played college f ...

once served as its TV spokesman. According to the company, in June 2007 the gangsters forced the firm to purchase several firms under very unfavorable terms. They may have looted $12 million from shareholders. On June 24, 2011, the firm filed for bankruptcy protection under

Chapter 11 Chapter 11 of the United States Bankruptcy Code ( Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, w ...

. In 2014, mobsters William and James Maxwell were convicted for organizing crime, among other charges, having been accused of racketeering fraud and bribery for their involvement in unlawfully taking over FirstPlus Financial Group and using its money to buy luxury cars and a yacht.

References

{{US-company-stub Financial services companies of the United States

See also

References