The former CEO of Hennessey's Inc., the company that owns Hennessey's Tavern in Laguna Beach, was arrested Thursday morning in Rancho Palos Verdes on a warrant that included 19 felony counts.
James Cram, 54, is accused of embezzling from the Redondo Beach-based company and its owners Paul and Jennifer Hennessey, according to a Redondo Beach Police press release.
He is suspected of embezzling about $1,146,000 over the course of his employment from 2006 to 2010.
The charges include grand theft, money laundering and tax evasion.
Cram is currently being held on $500,000 bail.
Besides Laguna Beach, Hennessey's Tavern has locations in Carlsbad, Dana Point, Hermosa Beach, La Jolla, Las Vegas, Manhattan Beach, Pacific Beach, Redondo Beach, San Diego and Seal Beach.