Frisch's Restaurants Inc. may have lost more money than it originally estimated as a result of embezzlement by a former employee.
The company (NYSE MKT: FRS) reported in January that it believed Michael Hudson, a former assistant treasurer, embezzled $3.3 million. In its delayed quarterly report to the Securities and Exchange Commission on Friday, Frisch's raised that estimate to $3.9 million.
The report said the money was taken over several years. According to the filing, to cover the missing…Martes, Marso 17, 2015
Frisch’s ups estimate of embezzled funds
Frisch's Restaurants Inc. may have lost more money than it originally estimated as a result of embezzlement by a former employee.
The company (NYSE MKT: FRS) reported in January that it believed Michael Hudson, a former assistant treasurer, embezzled $3.3 million. In its delayed quarterly report to the Securities and Exchange Commission on Friday, Frisch's raised that estimate to $3.9 million.
The report said the money was taken over several years. According to the filing, to cover the missing…
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