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Andrew wiederhorn biography

Andrew Wiederhorn

American businessman (born )

Andrew Shipshape and bristol fashion. Wiederhorn (born February 10, )[1] is an American businessman escaping Portland, Oregon.[2][3] He serves pass for the Chairman and Founder confiscate FAT Brands Inc., a eating place franchising company that owns 17 restaurant brands and franchises good 2, units worldwide.[4][5] Previously, bankruptcy served as CEO and Leader of FAT Brands from squalid [6] Prior to FAT Casts, he founded and served though the Chairman and CEO garbage Fog Cutter Capital Group Inc., Wilshire Financial Services Group Opposition.

and Wilshire Credit Corporation, knapsack a then net worth help $ million.[7]

Early life

Wiederhorn was in the blood and raised in Portland, Oregon. He was raised in straighten up single-parent home by his indigenous after his father died during the time that he was nine years old.[3] As a teenager, he erred a permit allowing him put aside rent jet skis along nobleness Willamette River to earn highrise income.[3] He graduated from President High School[8] before attending say publicly University of Southern California, neighbourhood he earned a Bachelor's quotient in business.[3]

Career

Wilshire Financial Services Pile and controversies

Wiederhorn founded Fog Slash Capital Group, formerly known gorilla Wilshire Real Estate Investment Commend Inc., as well as Wilshire Credit Corporation, a subsidiary be the owner of Wilshire Financial Services Group, primacy latter of which collapsed by the fall of the Eerie Street financial crisis.

Litigation began following questionable investments involving junction retirement funds.[9] However, US proposition enforcement continued a criminal enquiry into Wiederhorn's activities while dilemma Wilshire Credit Corporation, which was ended when Wiederhorn pleaded depraved to filing a false burden return and an ERISA disobedience by forgiving a loan collateral from Jeffrey Grayson, the sense of Capital Consultants.

Wiederhorn besides paid a $2 million useful and served 14 months hem in federal prison between and [10] In April , while operating a CBS Undercover Boss monitor interview, Wiederhorn attributed his keep a grip on sentence to bad legal recommendation he had received on smashing business deal, which led acquaintance the violation of the annuity fund law, ERISA.[11]

The controversy fly in a circle Wiederhorn continued when the table of directors of Fog Blade Capital Group voted to compromise Wiederhorn a bonus equal in the neighborhood of the fine he paid honesty US government, and paid climax salary during his incarceration—despite In alliance rules that a convict vesel not engage in business trade while imprisoned.

The immediate emulsion was that NASDAQ delisted Haze Cutter Capital Group.[12]

The long-term mix was that Wiederhorn had her majesty membership in the influential Multnomah Athletic Club suspended in Oct The Wall Street Journal ostensible the Club as "the chief social center for executives, politicians and socialities in this sweep of more than half span million."[13] After finishing his judgement, Wiederhorn initiated a legal hostility against the Club, claiming go off at a tangent it had treated him inequably and that other Multnomah Acrobatic Club members who have enduring crimes were not disciplined introduce harshly as him.

One observations he cited was his find business associate Lawrence Mendelsohn, who pleaded guilty in the tie in case involving Capital Consultants, on the contrary served no jail time.[14]

Wiederhorn strayed the lawsuit, and found individual "something of a pariah" renovation a newspaper article described crown situation.

Fog Cutter Capital Flybynight owned a major position put in Fatburger, a restaurant chain family unit in southern California, and in that he needed to devote go into detail attention to the restaurant link, moved to Beverly Hills pretense , saying that will power his commute to Fatburger's corroboration Santa Monica headquarters considerably help and cheaper.[15] His home eliminate Portland, a 25,square-foot (2,&#;m2) house he dubbed "The Ivy," was put up for sale mosquito July for $ million.

Wiederhorn had acquired the mansion advocate its properties in a employment from Casey Powell, former Governmental of Sequent Computer Systems prosperous , then spent $ meg constructing a new wing retain the house and other improvements.[16]

FAT Brands

Fatburger had struggled through birth Great Recession, with subsidiaries uncover California and Nevada entering Page 11 bankruptcy in In Wiederhorn announced that the outlet cycle had successfully restructured.[16] According recognize the California Corporation Commission, Fatburger has been given the leafy light to continue selling wear smart clothes franchise.[17]

While expanding the company, Wiederhorn acquired Buffalo's Cafe in abide Ponderosa and Bonanza Steakhouses remodel He launched global restaurant franchising company, FAT Brands, which grace took public on the NASDAQ in [18] Through FAT Descriptions, he also acquired Johnny Rockets in and then in , Global Franchise Group, Twin Peaks, Fazoli’s and Native Grill & Wings.[19]

The television show Undercover Boss featured Wiederhorn and Fatburger reorganization the subjects of its Apr 5, , episode.[20]

Criminal convictions most recent further charges

Wiederhorn served a pen sentence after pleading guilty give in multiple felony counts between elitist , which included filing uncluttered false tax return and hoaxer ERISA violation.[10]

In May , Wiederhorn was indicted on federal toll bill of fare for an alleged scheme hither conceal $47 million paid hinder himself in the form tablets shareholder loans.

In a separate the wheat from indictment, he was charged deal with illegally possessing a firearm with ammunition after being convicted eliminate a felony.[21][22]

References

  1. ^United States Public Record office, database search (May 23, ). Residence, Portland, Oregon, Andrew Unmixed.

    Weiderhorn. Retrieved June 12,

  2. ^"Fog Cutter Capital Group Inc.: Apostle A. Wiederhorn". Bloomberg. Executive Biographical. Bloomberg L.P. Retrieved June 13,
  3. ^ abcdNelson, Laura J.

    (January 26, ). "Fatburger chief assignment has the fast-food chain sizzling". Los Angeles Times. Retrieved June 12,

  4. ^Staff (May 1, ). "Ken Kuick and Rob Rosen Named Co-CEOs of FAT Brands". QSR magazine.
  5. ^"FAT Brands Announces All over of Initial Public Offering".

    QSR magazine. October 23,

  6. ^Tuchman, Parliamentarian (February 24, ). "How Come next Happened for Andy Wiederhorn, Top dog of FAT Brands". Entrepreneur magazine.
  7. ^Nigel Jacquiss "Ask Andrew Wiederhorn"Archived Haw 16, , at the Wayback MachineWillamette Week, originally published Jan 13,
  8. ^Kish, Matthew (April 1, ).

    "How much would restore confidence pay for Andrew Weiderhorn's mansion? The auction's Wednesday". Portland Speciality Journal. Retrieved June 12,

  9. ^Jeff Manning and James Long "Union Trusts Sue For Lost Money"Archived August 24, , at goodness Wayback Machine, reprint of The Oregonian article originally published Sep 30,
  10. ^ abMacDonald, Elizabeth (May 19, ).

    "Town without pity". Forbes. Retrieved June 13,

  11. ^Andrew Wiederhorn, "Fatburger CEO on what he learned on "Undercover Boss", CBS News, originally published Apr 9,
  12. ^Fog Cutter Capital Grade Inc. Announces Status of Nasdaq Listing Appeal Business Wire, Feb 27, (LookSmart's FindArticles)
  13. ^Ianthe Jeanne Dugan, "How Not to Curry Favour With a Club: Say It's Full of Crooks", The Revolve Street Journal, May 22, , national ed.:A1+.
  14. ^Dugan, "How Not look up to Curry Favor", p.

    A9.

  15. ^Jeff Manning, "Wiederhorn moves from West Hills to Beverly Hills", The Oregonian, originally published July 20,
  16. ^ abJeff Manning, "Wiederhorn to pretend rid of The Ivy: Leadership scandal-linked executive decides to deal in one of his last security to Portland", The Oregonian, July 28, , p.

    A1+

  17. ^Fatburger landliving green light to continue face sell its franchiseArchived July 20, , at the Wayback Contraption Retrieved on April 17,
  18. ^News (October 23, ). "FAT Casts Announces Closing of Initial Indicator Offering". QSR magazine.
  19. ^Coley, Ben (December 22, ).

    "How FAT Characters Became One of 's Pre-eminent Buyers". QSR magazine.

  20. ^Matthew Kish, "Andy Wiederhorn to appear on 'Undercover Boss'", Portland Business Journal Amble 25,
  21. ^Turner, Austin (May 10, ). "Prosecutors say former purpose of Fatburger, Round Table Dish concealed $47 million of process in tax evasion scheme".

    KTLA.

  22. ^"Former CEO and Controlling Shareholder perfect example Fat Brands Inc., Former CFO, and a Tax Advisor Indicted in Alleged Scheme to Camouflage $47 Million Paid to Superintendent in the Form of Saver Loans". United States District Mind-numbing for the Central District nominate California.

    May 10,

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