FirstPlus Financial Group
{{Short description|Texas-based mortgage company}}
{{Infobox company
| name = FirstPlus Financial Group
| industry = financial services
mortgage
| hq_location = Texas
}}
FirstPlus Financial Group was a Texas-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{{cite web|last=Berlin |first=Loren |url=http://www.dailyfinance.com/2011/11/01/mafia-takes-over-publicly-traded-company/ |title=Mafia Takes Over Publicly Traded Company |publisher=DailyFinance |date= |accessdate=2012-03-07}}{{Cite web|url=https://www.housingwire.com/articles/29474-firstplus-ceo-the-mob-took-over-our-mortgage-company/|title=FirstPlus CEO: The mob took over our mortgage company|date=2014-03-28|website=HousingWire|language=en-US|access-date=2020-02-04}} 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.{{Cite web|url=https://law.justia.com/cases/federal/appellate-courts/ca3/15-2811/15-2811-2022-07-15.html|title=United States v. Scarfo, No. 15-2811 (3d Cir. 2022)|website=Justia Law}}
At one point, the company had Vice President Dan Quayle as a members of its (legitimate) board of directors. American football player Dan Marino 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.{{cite web |url=http://www.firstplusgroup.com/press.htm#update |title=FirstPlus Financial Group, Inc. - Company News |publisher=Firstplusgroup.com |date= |accessdate=2012-03-07 |archive-url=https://web.archive.org/web/20120224073053/http://www.firstplusgroup.com/press.htm#update |archive-date=2012-02-24 |url-status=dead }} They may have looted $12 million from shareholders.{{cite web|url=https://www.justice.gov/opa/pr/2011/November/11-crm-1433.html |title=Lucchese Organized Crime Family Member and Associate Among 13 Arrested, Charged for Racketeering and Other Offenses, Including Illegal Takeover of Publicly Traded Company |publisher=Justice.gov |date=2011-11-01 |accessdate=2012-03-07}}{{Cite web|url=https://www.sfgate.com/news/article/Reputed-mobsters-charged-with-taking-over-company-2246881.php|title=Reputed mobsters charged with taking over company|first=Geoff|last=Mulvihill|date=November 1, 2011|website=SFGATE}}
On June 24, 2011, the firm filed for bankruptcy protection under Chapter 11.{{cite web |url=http://www.firstplusgroup.com/press.htm |title=FirstPlus Financial Group, Inc. - Company News |publisher=Firstplusgroup.com |date= |accessdate=2012-03-07 |archive-url=https://web.archive.org/web/20120224073053/http://www.firstplusgroup.com/press.htm |archive-date=2012-02-24 |url-status=dead }}
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.{{Cite web|title=Mobsters convicted for taking over FirstPlus Financial in Irving|url=https://www.bizjournals.com/dallas/news/2014/07/07/mobsters-convicted-for-taking-over-firstplus.html|last=Sakelaris|first=Nicholas|date=7 July 2014|website=Biz Journals|access-date=6 May 2020}}