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☆ Fat Brands and chair Andy Wiederhorn indicted in $47 million 'sham' loan scheme
▼ + stars: | 2024-05-10 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

Federal authorities on Friday charged Fat Brands and its chair Andy Wiederhorn of committing a brazen scheme that netted him $47 million in bogus loans from the restaurant company that owns Fatburger, Johnny Rockets and Twin Peaks. Fat Brands, Wiederhorn and a few other people were criminally indicted by a federal grand jury in Los Angeles for wire fraud, tax evasion and other counts related to the alleged scheme. "These charges are unprecedented, unwarranted, unsubstantiated and unjust," Fat Brands counsel Brian Hennigan said in a statement. As chief executive of Fat Brands, Wiederhorn, 58, allegedly directed the company to loan its own funds to him, with no intention of ever paying the "sham" loans back, according to the indictment. He also did not report any of the so-called loans from Fat Brands as income, according to the indictment.

Persons: Andy Wiederhorn, Johnny, Brian Hennigan, Wiederhorn, overreach —, Nicola Hanna, Wiederhorn's, Thayer, Ron Roe, Rebecca Hershinger, William Amon Organizations: Brands, Johnny Rockets, U.S . Securities, Exchange Commission, Fat Brands, SEC, Fog, Wiederhorn Locations: Los Angeles, Oregon, U.S

MILWAUKEE (AP) — After spending the last eight seasons as Craig Counsell’s bench coach, Pat Murphy is taking over for his former boss as the Milwaukee Brewers’ manager. Counsell took over as the Brewers’ manager when Ron Roenicke was fired in 2015. He hired Murphy as his bench coach following that 2015 season. When the Padres hired Andy Green as their full-time manager after the 2015 season, Murphy joined Counsell’s staff in Milwaukee. Weeks played for the Brewers in 2003 and from 2005-14, making the NL All-Star team in 2011.

Persons: Craig Counsell’s, Pat Murphy, Murphy, Counsell, “ Pat Murphy, Matt Arnold, “ Pat, Pat, Ron Roenicke, Bud Black, Andy Green, Star Brandon Woodruff, Corbin Burnes, Willy Adames, Devin Williams, Rickie Weeks, Weeks, “ Rickie, ” Arnold, ” Murphy, ___ Organizations: MILWAUKEE, —, Milwaukee Brewers, The Brewers, Chicago Cubs, Cubs, Brewers, ” Brewers, ”, Athletic, Notre, Fighting Irish, San Diego Padres, Padres, Counsell’s, NL Central, Arizona Diamondbacks, Star, Notre Dame, Arizona State, Sun Devils, Division III Maryville, Claremont, Mudd, Scripps Locations: Milwaukee, Division III Maryville ( Tennessee, Scripps ( California

The Brewers have reached the playoffs five of the last six years, the exception coming last season. There’s a sense of urgency associated with this playoff berth because of the long-term uncertainty surrounding some key figures. The Brewers were one win away from the World Series in 2018 when they lost a Game 7 at home to the Los Angeles Dodgers, but they haven’t won a postseason series since. Although Milwaukee owns a combined 2-10 record against the Atlanta Braves and Dodgers — the NL’s top two playoff seeds — the Brewers’ pitching gives them reason for optimism. The Brewers have lost seven of their last eight postseason games, a stretch that started with that Game 7 defeat in 2018.

Persons: “ We’ve, ”, Brandon Woodruff, Woodruff, Cy Young, Corbin Burnes, Craig Counsell, Counsell, we’re, ” Counsell, Ron Roenicke, —, haven’t, Brice Turang, Andruw Monasterio, Sal Frelick, Carlos Santana, Mark Canha, Josh Donaldson, William Contreras, Freddy Peralta, Wade Miley, Devin Williams, they’d, Joel Payamps, Elvis Peguero, “ I’ll, Willy Adames, “, We’ve, Christian Yelich Organizations: MILWAUKEE, The Milwaukee Brewers, They’re, Milwaukee, NL Central, Chicago Cubs, Atlanta Braves, The Brewers, Brewers, AL, Louis Cardinals, Los Angeles Dodgers, Dodgers, Toronto Blue Jays, Braves

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