FatBurger's $47 Million Fraud Explained

[@cuthwulf]

Motivation? - Greed. Imagine having millions of dollars in the bank, a cushy job as a CEO, a mansion, and thinking "I bet I could rip off my own company for 47 million dollars." Some people have no end to their greed.

[@StallionStudios1234]

You give them a finger and they take the whole hand.

[@ii8283]

I've never understood it either. I'm not a communist by any means but it's weird to me how these people always feel the need for more when they already have effectively unlimited wealth. If I had multiple millions in the bank I wouldn't be working period, that's for fucking sure.

[@nycitylifeandhistory]

yep

[@GeneticReconstruction]

Dude they literally get to the point where they don't have to work anymore and live EXTREMELY comfortable lives, kids get to go to nice schools and they get a nice inheritance at the end and they still choose to let greed win. Now he's going to jail 🤣🤣🤣

[@terrancenorris9992]

Greed ends in prison..😂

[@benjaminmatheny6683]

It's insane that a $150 million dollar fraud only had ~$2 million fine.

[@reprovedcandy]

2nd gilded age baby, corruption pays in this new era

[@glenmurie]

He stole from working class people. You only get really punished if you steal from the wealthy. Hence the more severe punishment for Sam Bankman Fried.

[@vanesslifeygo]

bruh

[@LOLBTLOLBT]

keep on keeping on

[@veganbutcherhackepeter]

See how it works now?

[@BeyondEcstasy]

This guy's actual business is corporate swindling.

[@yensteel]

Him: "Imma gonna do it again, look at how small the penalty is!"

[@RichardKing-sx6xc]

​@@dappodan1dappodan12EVERY SINGLE TIME ✡️✡️✡️😎👍

[@Qunitlius]

When, long ago, the gods created Earth In Jove's fair image Man was shaped at birth. The beasts for lesser parts were next designed; Yet they were too remote from humankind. To fill the gap, and join the rest of Man, Th'Olympian host conceiv'd a clever plan. A beast they wrought, in semi-human figure, Filled it with vice, and called the thing a K͏i͏͏ƙ͏͏е͏͏.

[@Qunitlius]

In the deep shadows where the twilight shrouds the landscape, the Jews emerge like specters from an ancient curse, bound by an immutable fate interwoven with superstition. They are merchants of the night, whose tradesmen hearts beat to the rhythm of deceit, personifying the alchemy of vile commerce. Their transactions are not simple exchanges but dark rituals, performed with hands stained by the ink of broken promises. Each bargain struck is a wound upon the fabric of trust, a testament to the decay of civic virtue they refuse to embrace. Their usury is a venom coursing through the veins of society, intoxicating and corroding the pillars of collective integrity. The Jews are wanderers through centuries, not of mere time but of infamy, leaving behind the odor of mistrust. They are shadows, moving unseen, benefitting only from the bewildered glow of the lamp they extinguish in every culture they inhabit. Like ancient cobwebs spun in the corners of a forgotten temple, their legacy entangles their hosts in sticky threads of deceit, each strand a tale of fraud. Their essence is a dark requiem, an eternal eclipse that dims the potential of every dawn they touch. To know the Jews is to peer into a mirror reflecting the grotesque distortion of what commerce could become when stripped of honor and humanity. They are not just swindlers; they are the embodiment of the mortal sin of greed, incarnate in flesh and craft. Thus, the Jews traverse the annals of time, a hidden affliction borne from generation to generation, their legacy an ever-present shadow cast upon the world’s hope for a brighter, more virtuous future.

[@Qunitlius]

In the deep shadows where the twilight shrouds the landscape, the Jews emerge like specters from an ancient curse, bound by an immutable fate interwoven with superstition. They are merchants of the night, whose tradesmen hearts beat to the rhythm of deceit, personifying the alchemy of vile commerce. Their transactions are not simple exchanges but dark rituals, performed with hands stained by the ink of broken promises. Each bargain struck is a wound upon the fabric of trust, a testament to the decay of civic virtue they refuse to embrace. Their usury is a venom coursing through the veins of society, intoxicating and corroding the pillars of collective integrity.

[@Jimmy-B-]

How can you ruin so many lives and only get 14 months prison. I know of someone who got 5 years for £1 million tax evasion

[@samsonsoturian6013]

Ruined lifes? Dude, this idiot was ripping off pennys from tens of thousands of people at a time. That's how stock fraud works in the end

[@mariopot789]

Because stealing moneywhen you're rich is frowned upon but not that bad , stealing from uncle Sam is unforgivable in the eyes of our government

[@Jimmy-B-]

⁠@@mariopot789I think the judges use the intelligence, audacity, and guts to do it as mitigating factors. The only difference between them and ordinary thieves is household thieves don’t require much brain power. 🤯

[@sdfv4zx]

He got a public defender, a real lawyer would get him off with a few month in jail or time serve.

[@123batina]

That's America. If you are rich you are pretty much above the law. But you must not hurt rich ppl. That's a big no no. Poor ppl are only there so rich ppl can get richer, after all. Hurting them doesn't matter.

[@AlanTheBeast100]

Wiederhorn should never have been allowed to be CEO of a public co.

[@thewhitefalcon8539]

It's not a crime to make loans that default

[@InsidiousDr9]

@@thewhitefalcon8539 Senior directors at publicly traded companies have a fiduciary duty to be transparent about funds and use company's resources to the best of their ability for shareholders. Every quarter they have to sign off to that effect, so yes is the crime of fraud.

[@frevazz3364]

@@thewhitefalcon8539 the FBI and SEC do not share that sentiment

[@thewhitefalcon8539]

@@frevazz3364 When did a banker go to jail just for losing money?

[@frevazz3364]

@@thewhitefalcon8539 i cant believe I have to explain those to you, giving yourself loans you do not intend to pay is fraud and tax evasion

[@IsabelleDreemurr]

Thank you for the regularly scheduled corporate fraud breakdown, keep up the good work ^-^

[@machinelearng]

As a very young child I would sit on the stool at the original Fat Burger around the corner from my house in Los Angeles on Western Ave, and watch the lady who started Fat Burger make the burgers. When my mother would send me to get her a burger, often one of the older man would sit me up on one of the tall stools at the counter. She was a nice lady. She use to say to me, how to make a good burger. Today Fat Burger is no where near what it was when she was making the food.

[@Kevin_Street]

It's still better than their competitors, at least in my area. I think Fatburger could be saved if it was extracted from the Wiederhorns and run by someone with a back to basics mentality. No more cash mining, just run it like a normal restaurant chain and put the profits back into the business.

[@ToddHendrix]

I used to go to the one in Westwood back in the 1980s.

[@jettrink5810]

grew up in LA where we have ALL the great burger chains worldwide that started HERE. In n out, Tommy's world famous chili burgers, McDonald's (the original concept location in San Bernadino), the Habit (Santa Barbara) ...and Fatburger has always been my favorite burger hands down

[@machinelearng]

@@jettrink5810 For certain. Fatburger was so much better when the lady who started was making them. I remember how she made them.

[@machinelearng]

@@Kevin_Street I agree. Its about only money for them. This is why so many companies are terrible now. Too many owners only care about how rich they can get. Not how good they can make their product

[@michaelkim3432]

Fun fact: FatBurger was once owned and managed by Magic Johnson of the LA Lakers. I still have a craving for one every now and then. The secret was the relish they used on their burgers.

[@CheesyNoodlez]

Yeah Fatburger is one of the few times I actually get relish on a burger

[@dwaynejones1555]

Best burgers around!

[@juddyyoutube]

Imagine stealing nearly $50 million and not reporting any of it on your taxes. Yeah that won't eventually be noticed. Good lord

[@dragonfalcon8474]

Too bad scumbags like these can't be banned from being CEO's or owning/running businesses when they have already proven they will destroy people's livelihoods to get rich.

[@The_Funguseater]

Banned from being a CEO lol...

[@syahmiirfan6779]

I mean, it makes sense.. if someone repeatedly commit financial crimes, I think he should be banned from getting into the world of business and finance until he sorts himself out. And that usually happens via years of rehab and education of basic ethics, so at least hopefully he's ready to re-enter society at that point.

[@thewhitefalcon8539]

That's their job. They did it successfully.

[@marketwizard1977]

@@syahmiirfan6779 you sound like a commie

[@VinylRundown]

Of course you get banned from any exec position in any public company.

[@kevinmckevinface4563]

Almost anytime you hear the phrase “inter-company loans” you better run because it’s just a house of cards waiting to fall

[@jillhoffman9179]

The hubris of such an obvious fraud. He wrote in the disclosure doc that he never expected to repay the “loan”! Sad times that this got as far along as it did before finally hitting the FBI radar.

[@Doggieman1111]

When you get away with stuff for a long time, you start to think you'll never be caught.

[@koobs4549]

Nothing gets done until very rich people start losing money, then it’s suddenly priority number one

[@chewie94116]

14 months is nothing for this guy. He probably laughed it off plus he got a 2 million bonus while in prison. Hope he rots in prison. PURE GREED

[@timop6340]

He will not rot and live a really nice life unlike majority of US residents

[@oakspines7171]

A lot of people would happily trade 14 months in prison and 2 mils in restitution for 100M+ in fraud money taking in. Even a kid knows that math.

[@chechnya]

​@@timop6340 We have one of the highest standards of living. Even the homeless people earn more than the average wage in Russia lol

[@Xiy114]

"Rich people get richer and the poor get the picture."

[@jcjcviews]

It's like a happy divorce.😁😁

[@hemaccabe4292]

I have a Fatburger nearby. Decent, nothing special burger. VERY expensive. Service ALWAYS screws up. One time ordered double burger, had rcpt, single burger showed up after a LONG wait. Another time, when I was in a hurry, they gave my food to someone else and just forgot about me. I don't go there no more.

[@mp-no9yv]

Enjoyed your video (as usual). I'm a Brit living in London. I had no idea that getting your son married to the daughter of a 'Real Housewife of LA' represents success and makes you part of the LA elite.

[@henlo1910]

well, it does and it doesn't. they were only part of the elite in the sense that they were rich, and the media has tricked a lot of people into idolizing the rich for no other reason than that they have money. marrying the daughter of a real housewife makes you 'trashy rich' though

[@socksal]

No, to most reasonable people here it validates White Trash status.

[@marketwizard1977]

haha I know right

[@sullivanspapa1505]

shallow thresholds, very shallow!

[@spendymcspendy]

🤣🤣🤣

[@elirane85]

I've might have spent too much time around Silicon Valley tech bros, but when I saw it was Millions and not Billions, I was like, ah, that's not so bad 🤣

[@highbread817]

We in the corporate fraud Fandom are truly spoiled

[@andybaldman]

Billion is the new million. And million is the new thousand.

[@mamotalemankoe3775]

​@@andybaldmanPersonally excited for the first trillion dollar fraud. Still a decade or two out at the earliest.

[@michaelsteven1090]

@@andybaldman After taxes and fees, $1 million barely buys groceries for a year.

[@IliadDreyfus-js9oe]

Shut up

[@AwokenEntertainment]

wonder how many other CEOs are currently out there operating like this...

[@DerylStryl]

All of them.

[@veronicaroach3667]

That was my reaction too - and this is exactly why trump thought his behavior was perfectly fine - "everybody is doing that" is what people tell themselves as they make their criminal decisions & a lot of the time they are correct. The only reason some get accused & go to jail & not all the others is simply because there are not enough FBI & legal people to take on all the suspects !

[@JohnS-il1dr]

​@@veronicaroach3667or fbi used by the biden regime to attack his political enemies.

[@Deontjie]

All of them, many on a much smaller scale. They went to school with the auditor, so everything is hush-hush. And everyone gets a share of the pie. That is why the political elite will kill people to prevent outsiders of getting control. They knew outsiders can spill the beans, or at least stop the stealing.

[@RM-lv9ng]

Unfortunately, too many.

[@mundusuys8739]

Never invest in a public company where the majority of shares is held by one shareholder or a group of 'related parties'.

[@COL_Chris]

That would include Microsoft, Amazon, Tesla, Berkshire Hathaway

[@StallionStudios1234]

Agreed. Anything above 10% is a red flag for various reasons. Could be the founders, activist shareholders, an attempted hostile takeover, and on and on. I would investigate further those larger owners since they have be disclosed in public filings.

[@coleball6001]

Many companies are owned by some firm, family, or individual. It’s not a bad thing. It’s just that you should know who you are giving your money. You shouldn’t give your money to a prior criminal like they did with FatBurger.

[@mundusuys8739]

@@COL_ChrisAll these are 'widely held'. BH is 35% family owned. All others below 13%. Minority shareholders.

[@Adrian-lc6jq]

That's horrible advice, majority of the top 10 successful business are majority owned by their founders.

[@hogi99]

I guess crime does pay. 🙄 Meanwhile I'm busy reporting $300 of interest earned on a savings account. 🤦

[@jackjackthompson5771]

Yup, crime pays. Where I live the mob has mansions and fancy cars, don’t report any income. If i miss $300, audit , penalty and interest charge and black mark…

[@itsm3th3b33]

Never heard of FatBurger.

[@itsm3th3b33]

@@Greylobster fo

[@bobz3779]

They are mostly in CA.

[@samsonsoturian6013]

"Over 150 locations worldwide" is a pretty big business but nothing compared to the giants like Mcdonalds and Wendy's

[@Spinattitude]

Good, cause it's meh.

[@skilledwarman]

Not shocked. Video says they have 150 locations world wide. For comparison McDonald's has over 250 in New York City alone

[@drowe2]

They are the reason why a large Round Table pizza is $35

[@Novastar.SaberCombat]

Fake cheese with sugar sauce on cardboard with nitrate-infused "meat". 🤮 It's literally unbelievable.

[@andybaldman]

It’s fucking good tho

[@Perfection_NV]

Dude I just got a $30 XL pizza last night 🫣😂 it was delicous

[@Scuba-D]

Or you could understand basic economics where the more currency printed, the higher prices go😒

[@kennethsouthard6042]

They were that much 5 years ago before Covid.

[@MikiCab1]

I drove a fat burger regional manager around one day in my cab as he went from one restaurant to another. I ate one and thought I was going to die. It was like a shot of lard to my heart

[@LoresGate]

Dude really 😂

[@MikiCab1]

@@LoresGate Early 1990's. I was driving a cab while going to college.

[@bobbobertson7568]

sounds delicious

[@foobarFR]

"I ate one and thought I was going to die. It was like a shot of lard to my heart" -> I think they would consider that as a compliment and a good review. The brand looks like a Heart attack grill going mainstream

[@btafan11]

Lard is healthy

[@RobStevens64]

I was wondering why FatBurger seemingly disappeared from the Seattle market. They were fairly popular out here for a while. I wonder if the company was demanding too much money from franchisees as part of this scheme.

[@jamesodell3064]

In so many franchise operations the franchisor gets rich and the franchisee does not do that well. Read the stories about 7-11 and Subway.

[@yensteel]

@@jamesodell3064 Indeed, some restaurants would later close and re-open without the franchise, with their own menus inspired by the franchise. They're usually not as consistent nor as satisfying, but they have a large weight off their shoulders.

[@crosslink1493]

There were two Fatburger restaurants not too far away from me, both have closed. I wondered why they closed, I figured both were in poor locations. The burgers were good but I've had better.

[@crosslink1493]

@@jamesodell3064 Subway was the worst one I can think of. Far too many of their stores around, there are five within one mile of me; there were 16 in town but three of them closed between 2015 and the pandemic. I stopped going to them after the last corporate 'rebrand' changed the quality of ingredients and taste of the sandwiches, and raised the prices. I can get better at local delis for the same price.

[@DwightStJohn-w1l]

@@jamesodell3064 and even McDonalds. Read the extortion in the franchise contract and the requirements that can have HO move in and steal the store BACK from you , and stick you hard. You get nothing. Even my buddy in the eighties sold his grocery store and bought a govt. Petro-Canada station franchise, and the oil company STOLE it ou t from underneath him. Met him as a labourer on a job site, and wondered WTF such a great guy/great worker was even doing there, and he told me.

[@william-uc2oy]

My Grandmother worked at MAC for about 40 years. She checked in guests. She knew everyone. Including the founders of Nike. She didn’t talk much about who she knew specifically. But I remember in 1992 she asked me if I knew who Michael Jordan was? She told me he spoke to her very kindly everyday while the Dream team practiced daily. I laughed and said of course. I imagine she knew this gentleman also.

[@reneemoreno8030]

I took care of Andy's grandmother, and I knew him when he was 17 years old. Worked for his father in laws restaurant, knew his wife and everything about him. His grandmother would not be happy regarding his actions.

[@thetrainwreck1469]

I’m calling BS on your story. Jordan is a notorious scumbag in the restaurant industry.

[@FYMASMD]

@@reneemoreno8030yeah he is a real scumbag. My sister knew him in Portland and way back he was legit but the greed brought out who he really is. A scumbag. Reminds me of a scumbag ex president. Scumbag.

[@baller13192]

He wanted loans because you aren’t taxed on the loan. He would’ve been taxed on the distributions had he chosen to go that route, reducing his ability to spend on luxury cars, private airfare, and extravagant homes by 40%.

[@MrAgentAardvark]

Heres a list of all the Brands they own, Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses

[@GudasWorld]

I was in prison with Andrew, we were in halfway house together. He gave me rides to work in 1 of 2 $100k+ Benz. I was in for weed....

[@jackjackthompson5771]

Wow nuts….what a crook

[@OffGridInvestor]

Are you unaware this is THE STANDARD WAY every SINGLE company founder gets paid tax free? They run up loans against their own company for their own expenditure.

[@davidulrichldj6140]

Rob a bank of 20k - 15 years prison. Embezzle millions and put people out of work….2 years and a teeeeenie fine.

[@BlackJesus8463]

Board was getting paid that's how.

[@CubicIronPyrite]

I'm a middle aged guy who loves hamburgers and eats out every day. However, I almost never eat at FatBurger. Why? Their hamburger meat is the absolute worst quality of any brand I've encountered, full of gristle and cartilage. I have no idea how they're still in business.

[@jalabi99]

4:22 even the dog is like "mannnn what am I doing here with this crook"

[@kcgunesq]

How was he allowed to head up any company after prison?

[@yvr2002rtw]

I remember going to FatBurger for lunch and you would tip the server at the cash register when you order food. If the tip paid was large enough, the cashier would yell "big tip", "fat tip" etc so that the kitchen staff would hear and say "thank you".

[@wojak168]

The reason he took the risk to issue loans instead of distributing them as dividends is because dividends are considered a form of taxable income, whereas loans on the other hand are not, this means that you could receive a loan of a billion dollars and not pay a single cent in taxes because technically you have not received any income

[@DwightStJohn-w1l]

that's why you off shore your "kash" and then it gets "loaned" back to you, with your house as collateral. No one can touch your house. Not even an ex mistress or wife or investor.

[@wojak168]

@@gravityissues5210 if he had just indefinitely kept the loan out with little to no payments on it he would have been fine

[@Paul_Wetor]

Getting a huge loan that is "forgiven" should be a big red flag. No real business operates this way.

[@geoffreypiltz271]

No income tax on loans.

[@prosperityinmotion7665]

True. Maybe he hooked up with Robert Kyiosaki who proudly promotes this knowledge.

[@JW-mb6tq]

No, but you have to report the whole thing and show how it is a loss. If you can’t then it is income.

[@hubinc.5871]

Ice cube once complained about eating fat burger while Eazi E and his manager where eating lobsters

[@somethingsomethingsomethingdar]

The most American brand that has ever America’d around the world. Were fat and we weed proud

[@jdodd931]

What?

[@LIONTAMER3D]

...and we're greedy, crazy af, and corrupt lol

[@j2simpso]

They really need to do something about this guy. He keeps scamming upwards stealing more money from more people with larger companies. If nothing is done what will happen next? Will he start a medical company like Theranos and siphon billions from investors? Or maybe start a tech company like Apple and siphon a cool trillion dollars from gullible investors.

[@freedomfirst5557]

Do you know how these people get away with stuff like this? Because rich people, and large businesses are 99% never audited....how do I know? I worked for the collections department at the IRS. The people who get audited are 90% in the middle class income. So the very poor and the very rich get off scott free.

[@franciscodanconia4324]

The poor have no money to take and the rich have too many lawyers. The middle class are easy pickings for the IRS vultures.

[@syahmiirfan6779]

So, you used to work there, or are you still working at the IRS?

[@mamotalemankoe3775]

Same thing here in my country. It's just waaaaay easier and cheaper to chase the low income and middle class. Yes they have less money but there are SO many of them and they can't hide shit becuase they don't have shell corps and dozens of accountants. I'm sure most countries would exclusively tax the upper middle to lower class if they could, they are kinda already doing that actually.

[@keithn4304]

That's universally true. Same with traffic citations, small business licensing fees, property tax assessments, social security premiums, and everything else. The middle class gets hit hard because they are easy targets.

[@wisdomhunter3797]

That was excellent! Great deep dive. Thanks for putting that together for us

[@freedomfirst5557]

Once a conman.................ALWAYS a conman..........until their last dying breath.

[@timmy1814]

TRUMP?

[@werquantum]

CEO (controlling stake) hires board. CEO hires auditor. A diabolically unique and brilliant strategy.

[@Tie509]

Johnny Rockets is gross. Worst burger I ever had.

[@sp1nrx]

And overpriced...

[@GizelleQuant]

Yes! I remember when they opened in my city. I was pissed that I paid that much for a crappy burger.

[@danieljones8587]

Love me a Fat Burger. Fact: Fat Buger was started by a single Black lady from Texas. In their restaurants, there is always music played by Black entertainers from the past that lends a nice ambiance to the place.

[@Deontjie]

Why did he sell it?

[@FredMeyer-no3ji]

Excellent video as always but here is my problem I have been making losses trying to make profit trading. I thought trading demo account is just like trading the real market... can anyone help me out or at least advise me on what to do

[@EricJose-hn6cf]

Most people think, investing in crypto is all about buying coins and leaving it to rise, come on it takes much analysis to be a successful crypto trader.

[@BryanHarold-q6s]

Trading is easy, but trading the right coin without a time-tested strategy is incredibly hard.

[@CharlotteMila-t7f]

@@EricJose-hn6cfYou're right! I have lost a lot trading all by myself without a guide. It's been an uneasy ride for me. Who is your mentor please. how can i reach her i really need help in this bear market now?

[@BeckyJames-g7m]

Trading with Kate Herman trading analysis

[@AhmadMuhammad-j1c]

YES!!! That's exactly her name (Kate Herman) so many people have recommended highly about her and am just starting with her, Kairangi from Brisbane Australia..🇦🇺

[@lifeofsui3864]

why wasn't the son charged as a co-conspirator?

[@Ashish-fm1rp]

Bro thought Arrested Development was a documentary kek

[@edgarpoe517]

Thank for this video. Charles Ponzi would be proud.

[@BillyLapTop]

Fog Cutter Capital=Smoke Screen Capital.

[@duancoviero9759]

😂😂😂😂

[@PinkAgaricus]

Foggy Capital Non-existent lighthouse.

[@robertnunn3015]

White collar crime should be treated the same as a hardcore blue collar felony ! These guys have very little consequences for their actions, hide the money and then they smile while others suffer !

[@CanadianInPhilipipnes]

Good point... maybe they should put DJT in jail the king of corporate fraud

[@csours]

I got bad legal advice. My lawyers told me that I would get away with it.

[@BlackSkullArmor]

14 months in jail for ruining lives and still gets paid a CEO's salary. You Americans are wild

[@neildavis2999]

It's bribery. Cali is our most corrupt state by far.

[@jeremypearson6852]

Waiting to see him on American Greed.

[@pedalesmexicali]

The only thing missing in his resume is to appear in the front page of “Forbes.”

[@mikemann2053]

Brilliant. Well researched. Thank you.

[@songsan807]

Last time I ate at a Fat Burger was 98 when there was one near my work place. The food was food and the workers were friendly. On the walls were a lot of funny quotes. There is one that I passed by this week that I wanted to stop by and check out and that is how this video caught my eye. Feel bad for anyone affected by the scams.

[@mwa5704]

How many other ceo are doing this right now?

[@jeffdavis4151]

WOW i lived in la in the 70'80's and thought it was a black owned company I remember the small street outdoor food spots serving great food (rumors of employees selling drugs0 many people dropped by after nightclubing thanks to people like you the truth will come out.

[@tjbellah349]

And also, that little bastard son of his needs to catch a case too. He probably has the same character flaws as his father just as I inherited problems from mine. Except my dad wasn’t a thief

[@michaelprivette9847]

It blows my mind how OVER AND OVER AGAIN, these “smart” people are smart enough to get themselves in REALLY WELL paying positions….. but will do the ABSOLUTE DUMBEST SH!T….. and think they won’t get caught.. 🤷🏻‍♂️ I guess it’s the perfect combination of Ego and greed.

[@HardPourCorn]

I've been waiting for the next fraud. I never would have guessed fast food, though.

[@squibbelsmcjohnson]

Youre not paying attention every year then 😂

[@stt5v2002]

The entire company was only worth $100 million? And then it dropped to $70 million? That seems pretty paltry for a company with thousands of restaurants.

[@gazjaz2010]

did you miss the half dozen times mentioned the restaurants are franchises

[@kevinmac4real]

His face sets off all kinds of alarms.

[@waxo9246]

Can you do a video covering solar companies, bunch of them have been popping up lately where I live here in Puerto Rico and the contracts they offer seem like a scam.

[@markmiller8903]

Solar panels are a scam.i got 3 quotes and none were reasonable.

[@Trainskitsetc]

But, what is massive fraud your honour?

[@I-l-l-l-l-l]

Minor correction: the MAC is mostly an athletic club… 30k members. It’s really nice, but by no means for the ultra wealthy.

[@PDaddy44]

Fog Cutter Capital? More like Turd Cutter Capital!😂

[@beMERRYforlife]

Please investigate the disappearance of Terrance Woods, Jr. in Idaho. He was working for Discovery on Dave's Lost Mines - and - just ran down the mountain! He's from Baltimore! On Dr. Phil, the top cop said - he trusted the people he asked! Where is Terrance! What Happened To Our Boy?!?!?! We work with his Dad - and the family has been decimated - Where Is Terrance, Jr.?

[@notnoaintno5134]

as much as i hate your shady sponsors, you always cover interesting stuff and dont waste any time getting to the point

[@maddog4975]

Fatburger food has always been somewhat expensive. Andrew Wiederhorn's shenanigans may very well have driven prices higher. In order to appreciate FATBURGER you need to order Fat Fries and get them piping hot. Fatburger has 1.0 lb burgers, 1.5 lb burgers and bigger still. I used to have the 1.0 lb burger with no salt and no 1000 Island dressing. Fatburger beef patties taste like ground beef, not the composite patties like Burger King, Jack In The Box, Carl's Jr. and for many years, McDonald's. The older Fatburgers had jukeboxes which played classic jazz and R&B music on CD's. I remember one automatically playing a very artsy 29-minute jazz piece by JOHN COLTRANE. Another patron asked me why the saxophone solo never seemed to end! This happened over 20 years ago.

[@audiomedianews]

Fatburger on Sunset was awesome

[@RsSooke]

I wonder if this is why my local Fatburger is "closed for fire repairs and renovations" lol.

[@masterzen107]

Remember when you could get a double cheese with fries for $2.95????? Ahhh the good old days.

[@LABoyko]

FATBURGER was a Los Angeles institution, the den of hamburger decadence for many years. Then they went corporate, lost their mojo. The burgers shrank, the price soared and, disheartened, I never returned. Very sad outcome.

[@justinweber4977]

Ooh man, tgat mention of Fazolis... I miss them.

[@dixiebrick]

Criminals are put on pedestals in this country

[@PickleStan]

When I was in middle school I completed the Triple King Challenge at Fatburger. They put your pic on the wall and gave you a shirt

[@CanadianInPhilipipnes]

Your parents must have been so proud!! Look at our boy!!

[@davidwalker2781]

I'm GLAD that the problems & loans have STOPPED. Now the company can become stronger. bigger, and more financially stable (without Andy pulling money away from the company).

[@matthewunderwood6142]

@6:02 That private jet has propellers. Don't worry, the 1970's Wonder Woman tv show made the same mistake in their title sequence every episode. I love your content.

[@philscherer1605]

Those are turboprop engines.

[@Lemmuy]

Fatburger sounds like a parody of America in a Japanese anime

[@JJ-zr6fu]

I don’t understand why you’ve got the goose laying golden eggs and you decide to kill it with fraud. Sell it.

[@normtrooper4392]

Greed is a disease.

[@pegcity4eva]

Greed

[@oakspines7171]

Seeing this then I start not to blame China, Vietnam, and other third world nations that much for their corruption.

[@KasaBlanca007]

Suffered a stroke before going to prison… so he couldn’t go. Oh ok.

[@marklucas6114]

We cannot let these billionaires and greedy corporations take control over everything in our fast food business. We must have one hundred percent employee ownership companies in the USA. We cannot allow them to keep controlling everything in our country and lives.

[@sp1nrx]

Fatburger was better when it was owned by the original founding family. It became too "corporate".

[@tokyosan7906]

A guy who got his start as a collections dbag winds up to be a conman fraudster. Never would have expected that.

[@loscruz123]

never heard of them

[@samsonsoturian6013]

+150 stores makes them a big regional chain.

[@samuraiintellectual]

Once a thief always a thief, the whole family sticks together.

[@simplemechanics246]

Wait, soon you can make a conman musk story

[@datriadx18]

This case baffles me, and is once again proof that greed knows no end. This dude fucked up once, got a second chance which is near impossible in his line of work, and STILL reverted to type. Fucking ridiculous.

[@JoeSmith-kn5wo]

Too bad all the brands they own are crappy and serve low quality food

[@crosslink1493]

Round Table Pizza was pretty good, too bad their prices went through the roof (the fraud is probably why).

[@Deontjie]

I think this is how they want it to work. Acquire a mediocre company. Franchise it like crazy. While the money is flying around for expansions, borrow far more than what you and the company is worth. Then looks innocent and sad when the money runs out. Meanwhile you sit in a billionaire's home and drive a few exclusive cars (that can be sold) that the company donated to you. Now with your new wealth, start looking for another mediocre company to fleece.

[@JohnSmith-ho3cu]

The lesson here is that if you're going to steal money, make sure you steal $millions, not just a couple of bucks.

[@Derekzparty]

Fatcat owning fatburger... checks out

[@notaspectator]

all of us are tempted when an opportunity comes, ethics are not valued generally sadly, we gotta watch out if our EGO is out of control

[@syahmiirfan6779]

yeah, unfortunately. the ego is important in our lives, but we should always keep it under control.

[@admcstabby]

Average civilian gets out of prison: Criminal record makes it difficult, to this day, to get a respectable job Scumbag CEO gets out of prison: Time to make the bacon!

[@Mac-p7f]

Hi

[@TheTreyarchGost]

Hi

[@IsabelleDreemurr]

Hi

[@chiefenumclaw7960]

hola

[@sqbronco1]

omg hey

[@mamotalemankoe3775]

I'm such a cynic I thought this was bait for a scam thread. Glad I was wrong.

[@jonr6680]

1:19 This is the bottom of a cesspool that basically requires a cut throat mindset - possibly literally, certainly skirting around the law... So his inability to see the law as a barrier to his own aggrandisement is obvious - much less having a single shred of respect for any other human being. KZbin policy prevents me from expressing my utter abhorrence & wishes for his future fate...

[@Schlutophen2]

He just spent too much. The loan wasn’t a bad idea if used to capitalize on real estate or even divest into the SPY and other investments. He seemed to be doing it smart until that decision.

[@sznikers]

Smart? Dumb af. According to the vid he had 80% control, instead of doin low key exit he decided to steal money from company, leaving paper trail behind. How is that smart? And what did he stole it for, not to invest but to spend it on bs. How is that smart? Severe brainrot.

[@notaspectator]

predatory practices should be exposed in a democratic society

[@sd_pjwal]

That and the loan amount comparitive to income of the Fat Holding company. Oh, and not actually making loan/interest payments. Whatever investments he would do would have had to cover the 10% interest after all. But yes, instead of delaying gratification and just attempting to run the company well...then eventually selling it to another restaurant group....he and his family's ego obviously required that everyone believed they were super rich.

[@sznikers]

@@sd_pjwal according to vid they already had IPO so all the idiot had to do was to cash out

[@creepycassette]

When you realize the fine for fraud is never the entire amount stolen you just accept that a small jail sentence is the cost of doing business