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Former Idaho Chili's restaurant owner sentenced for securities fraud

Posted at 10:36 AM, Jul 05, 2017
and last updated 2017-07-05 12:36:05-04

The president of a bankrupt regional restaurant group has agreed to pay more than $1.7 million in restitution to thirteen investors in a Montana securities fraud case.

Ken Hatzenbeller, of Great Falls, earlier pleaded guilty to bank fraud -– and now must report to a federal prison in Oregon later this month to begin serving a thirty-month sentence. He was ordered to pay $1 million in restitution in that case.

The Great Falls Tribune reports Hatzenbeller was given a six-year deferred sentence Monday for securities fraud.
Hatzenbeller was president of Shoot the Moon LLC, which owned eleven Chili's restaurants in Montana, Idaho and eastern Washington. The company filed for bankruptcy in 2015.

Hatzenbeller's attorney, the state prosecutor and the judge said it's doubtful he will be able to pay all of his restitution.

(by Associated Press)