Summary
- Fat Brands and its chair Andy Wiederhorn were charged with a scheme that netted him $47 million in bogus loans from the company.
- Wiederhorn allegedly directed the company to loan its funds to him for personal expenses.
- The SEC accused Wiederhorn of using the cash for private jets, luxury vacations, and other personal expenses.
- Wiederhorn, along with other defendants, are facing charges related to wire fraud, tax evasion, and other counts.
