B. Riley is under fire for funding the buyout of Franchise Group, which is linked to a firm that prosecutors call a fraud, The Wall Street Journal’s Jonathan Weil reports. New details of loans by B. Riley to the hedge-fund manager show a longer and closer relationship than previously known, raising questions about whether Franchise Group should have disclosed more details about some of the loans years ago, when its board included two B. Riley executives, the report says.
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