- 4 -
Mr. Beretta became an equity owner of a Peppertree Restaurant in
Salinas when the restaurant was purchased by HRB Enterprises from
Denny's, Inc. Mr. Beretta provided the majority of capital to
acquire the Salinas Peppertree Restaurant. In early 1985,
Mr. Beretta advanced an additional $70,000 to HRB Enterprises.
This advance was evidenced by two promissory notes from HRB
Enterprises that were payable on demand.
In late 1985, Mr. Beretta discovered that Randy Hurst and
Bobby Rodgers were embezzling money from several of the
restaurants that were owned by HRB Enterprises. As a result of a
negotiated settlement, Mr. Beretta received two restaurants that
were previously owned by HRB Enterprises, the Salinas Peppertree
Restaurant and Seaside Bobby Rodgers Steak and Gourmet Burgers.
In September 1986, Mr. Beretta entered into an agreement
with William Arias whereby a new corporation would be formed to
take over the Salinas Peppertree Restaurant. Mr. Beretta and
Mr. Arias formed DOBRA Enterprises, Inc., by recording articles
of incorporation, but they never completed the incorporation
process.
Mr. Beretta and Mr. Arias agreed that Mr. Arias would
contribute the expertise, and Mr. Beretta would contribute the
restaurant business, for which they would each receive a share of
the profits. Throughout the period 1987 to April 30, 1991,
Mr. Beretta was fully involved in the operation and supervision
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011