Crime & Safety
Former Hennessey's CFO Arrested
James Cram, the former chief financial officer for Hennessey's, Inc. which runs the popular Hennessey's Tavern restaurants, is accused of embezzling more than $1 million.
Redondo Beach police detectives have arrested former Hennessey's, Inc. Chief Financial Officer James Cram on embezzlement charges, said police spokesman Sgt. Shawn Freeman in a news release Thursday.
Redondo Beach police believe that Cram, a 54-year-old resident of Rancho Palos Verdes, embezzled $1.146 million from the Hennessey's company and its owners, Paul and Jennifer Hennessey, when he worked there from 2006 to 2010.
Hennessey's Inc. operates Hennessey's Tavern in Manhattan Beach, Hermosa Beach, Redondo Beach and other Southern California locations.
Find out what's happening in Manhattan Beachfor free with the latest updates from Patch.
When Cram left his position as CFO, the company performed an audit and "discovered discrepancies" in the books, according to the police news release. That's when Paul Hennessey alerted the authorities.
"Mr. Cram was basically writing checks to himself or his own creditors… signing Mr. Hennessey's name to it," Freeman said, adding that the investigation took more than a year to complete.
Find out what's happening in Manhattan Beachfor free with the latest updates from Patch.
Cram was arrested on suspicion of 19 felony counts, including felony counts of grand theft, money laundering and tax evasion, according to the statement.
Cram is being held at the  on $500,000 bail.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
