ATLANTIC CITY, N.J. (AP) - The former chief executive of a Tennessee financial firm that was purchased by a group seeking to run a loan program in Atlantic City says he was never told of those plans.

ATLANTIC CITY, N.J. (AP) The former chief executive of a Tennessee financial firm that was purchased by a group seeking to run a loan program in Atlantic City says he was never told of those plans.

Jim Thigpen says investor W. Wesley Drummon boasted of a business plan that involved $2 billion from the Bank of China when he first pitched buying the Tennessee Business and Industrial Development Corp. in 2012.

An Associated Press review found that Drummon's company used $3 million from Atlantic City to buy the company. No loans have been issued and the city has sued to get its money back.

An attorney for Drummon and TN Bidco has denied the city's claims.

The company is due in court Friday morning after it missed deadlines to deliver information to Atlantic City in the case.