Fat Brands' portfolio includes Fatburger, Johnny Rockets and Twin Peaks.
Fat Brands and its chair Andy Wiederhorn were indicted for a "sham" loan scheme that netted him $47 million.
Wiederhorn, who was convicted two decades ago in a criminal case that involved similar conduct, was separately criminally charged in an indictment in Los Angeles of being a federal felon in possession of a handgun and ammunition. Wiederhorn's alleged fraud accounted for roughly 44% of Fat Brands' revenue from 2017 to 2021, which meant the company often wasn't able to pay its bills. In those situations, Wiederhorn would allegedly redirect funds from credit cards paid for by Fat back to the company with assistance from his son Thayer, who was then the company's chief marketing and is now its chief operating officer.
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