The Cincinnati company behind dozens of Frisch's Big Boy restaurants says an investigation revealed a former assistant treasurer stole hundreds of thousands of dollars more than originally thought.
A lawsuit filed in January accused Michael Hudson of stealing $3.3 million from Frisch's Restaurants Inc. in a multiyear embezzlement scheme. But The Cincinnati Enquirer reports (http://cin.ci/18DcwxE ) the company now says an internal investigation with forensic accountants has revealed that Hudson actually stole $3.9 million over seven years.
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The company alleges 52-year-old Hudson forged payroll and accounting records to funnel money into personal accounts.
Hudson worked for Frisch's for three decades before resigning in December. He refuted all allegations of theft and fraud in February court filings.
The company owns 95 Big Boy restaurants in Ohio, Indiana and Kentucky.