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Breaking News: CNBC's Robert Frank Speaks with Patriarch Partners CEO Lynn Tilton

WHEN: Today, Monday, March 30th

WHERE: CNBC's "Squawk on the Street"

Following is the unofficial transcript of a CNBC interview with Patriarch Partners CEO Lynn Tilton where she discusses the SEC announcement of fraud charges against her company. Following is the video on CNBC.com: http://video.cnbc.com/gallery/?video=3000367074.

All references must be sourced to CNBC.

ROBERT FRANK: LYNN TILTON, THE CEO AND FOUNDER OF PATRIARCH PARTNERS AND ONE OF THE RICHEST SELF MADE WOMEN IN AMERICA HAS BEEN CHARGED WITH FRAUD BY THE SEC. THE SEC ENFORCEMENT DIVISION ALLEGING THAT TILTON AND PATRIARCH HAVE BREACHED THEIR FIDUCIARY DUTIES AND DEFRAUDED CLIENTS BY FAILING TO VALUE ASSETS USING PRESCRIBED METHODOLOGY. NOW THIS HAS TO DO WITH THE CLOs THAT SHE USES TO FINANCE HER COMPANIES AND THE DISCLOSURES THAT WERE MADE TO INVESTORS IN THOSE. IN ANTICIPATION OF THIS ANNOUNCEMENT WE MET WITH LYNN TILTON, WE HAVE HER STATEMENT. SHE SAYS SHE IS GOING TO FIGHT THIS. THIS IS A FIGHT OF GOOD VERSUS EVIL. AND SHE SAID THAT EVERYTHING THAT SHE NEEDED TO DISCLOSE WAS DISCLOSED TO INVESTORS. LET'S TAKE A LISTEN TO WHAT SHE TOLD US.

LYNN TILTON: MY NUMBER ONE PRIORITY IS PROTECTING MY COMPANIES AND MY PEOPLE SO THAT I CAN MAXIMIZE VALUE FOR THE FUNDS. MY PEOPLE NEED TO KNOW I'M STANDING INFRONT OF THEM. MY PEOPLE NEED TO KNOW THAT I'M FIGHTING FOR THEM. BUT I ALSO WANT TO LIVE IN A COUNTRY WHERE I CAN FIGHT FOR TRUTH WITHOUT ASSUMING THAT BECAUSE IT IS THE GOVERNMENT, THAT I'M GUILTY WITHOUT THE BATTLE. SO AS SOMEONE WHO HAS ALWAYS FOUGHT FOR TRUTH, AND PROTECTED HER INTEGRITY AND HER INTENT AND HAVE PREVAILED, I EXPECT TO DO THAT. ALL OF THESE SOPHISTICATED INVESTORS KNEW THE STRATEGY OF BUYING DEEPLY DISTRESSED COMPANIES. AND THEN WORKING TOWARDS THE RESTRUCTURE AND THE REVIVAL. AND ANYTIME YOU ARE DEALING WITH SOMETHING HIGH RISK, NOT EVERYTHING MAKES IT. BUT AS WAS MY EXPERIENCE FROM THE PREVIOUS FUNDS WHICH WERE HIGHLY SUCCESSFUL, IT IS ALWAYS THAT GROUP OF WINNERS, THAT GROUP OF GREAT TURNAROUND STORIES THAT ACTUALLY ARE THE DRIVERS OF THE REPAYMENT OF THE NOTES.

ROBERT FRANK: OBVIOUSLY GUYS, LYNN TILTON, ONE OF THE HIGHEST PROFILE FEMALE EXECUTIVES AND SELF MADE BILLIONAIRES IN AMERICA. SHE AGAIN IS VOWING TO FIGHT THESE CHARGES BY THE SEC CHARGING HER WITH FRAUD. SHE IS NOT GOING TO SETTLE THIS RIGHT NOW, SO IT LOOKS LIKE THIS IS GOING TO DRAG OUT FOR SOME TIME. GUYS, BACK OVER TO YOU.

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