He and his company, publicly-traded Wilshire Financial Services Group, were a player in what federal officials at the time called the largest union pension fund fraud in U.S. history. An associate of Wiederhorn's, the late Jeff Grayson of the now-defunct Portland investment firm Capital Consultants, Inc., looted the pensions of several union groups. Wiederhorn ultimately served 15 months for filing a false tax return and paying an illegal gratuity.
Now, Wiederhorn lives in LA, where he is the CEO of the Fatburger fast food chain. Tonight, he takes his act onto national television at 8 pm, on the CBS (channel 6) show Undercover Boss.
On that show, Wiederhorn—whose Wilshire stock was once worth $140 million—will make hamburgers for a menial wage, while sporting a none-too-convincing fake mustache designed to fool his employees into believing he's just another down-on-his luck victim of the economic collapse.