Crime & Safety
Former Hennessey's CFO Arrested
James Cram, the former chief financial officer for Hennessey's, Inc.—known for Hennessey's Tavern in Hermosa Beach—is accused of embezzling more than $1 million.
Redondo Beach police detectives arrested former Hennessey's, Inc. Chief Financial Officer James Cram on embezzlement charges, said police spokesman Sgt. Shawn Freeman in a news release Thursday.
Police in neighboring Redondo 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 Hermosa Beach.
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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.
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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.
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