I got so mad watching the latest episode of Kitchen Nightmares that I started screaming at the computer screen (I watch on hulu).
It wasn't about the food, or how the restaurants are run. It was about how the owner got funding for the restaurant. The owner paid for the restaurant with the inheritance he got when his father died ($250k). Then, when he ran out of money, he used the money in his son's trust ($250k), which was created when the father died, to fund his restaurant. The owner was the trustee of the money, which means that he controlled the money, and could chose to invest the money. However, the trustee cannot invest the money in his own project, because doing so results in a conflict of interest. Taking the money for the trustee's own use is EMBEZZLEMENT, and a felony.
On the show, the owner mentioned that he invested his son's money in the restaurant without telling him, and now his son was mad at him. And he didn't know why his son was mad at him. This is when I started shouting at the computer screen.
The son can sue to get his money back, but at this point, because the father is so bad at managing the restaurant, there would be nothing to get back. So the son is forced to help run the restaurant in the hopes that someday, he might be able to get his money. (The son is an adult).
I hope that the police watch the show, and then charge the father with theft, and then he GETS SENT TO PRISON FOR EMBEZZLEMENT OF HIS SON'S TRUST ACCOUNT!!!!!!!
2 comments:
That is crazy. There is also a tv show on, apparently, I saw a preview for it a few nights ago, about a man who is trying to get multiple women to marry him... I'm wondering why he hasn't been arrested yet?
People are crazy. Why would you go on television and admit that you'd been doing something illegal? And why don't the TV producers notice that they are featuring felons?
Post a Comment