The deal gave Wiederhorn's publicly held investing company, Fog Cutter Capital Group, an 83% share in Fatburger.

FORBES: A Juicy Tale

The Fatburger chain traces its roots to 1952 South Central Los Angeles and the kitchen of Lovie Yancey.

FORBES: A Juicy Tale

Over its 55-year history Fatburger, billing itself as "the last great hamburger stand, " has become an African-American cultural icon.

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But there's another reason to wonder about the fate of the fabled Fatburger: the man charged with fixing it.

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Montel Williams owns five in Denver, Kanye West has the Chicago region, and Queen Latifah is opening a Fatburger in Miami.

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He'll soon change the name of his company from Fog Cutter to Fatburger so the chain will be publicly traded (over-the-counter).

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Owning one of Fatburger's 90 restaurants is now a treasured celebrity investment.

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When New York's Beastie Boys are in L.A., they go to Fatburger.

FORBES: A Juicy Tale

As the story goes, Yancey named her new restaurant, no more than a shack at the time, after her boyfriend, whose nickname was Mr. Fatburger.

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Except that as a business Fatburger is burnt to a crisp.

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"I grew up hanging out at Fatburger, " says Latifah.

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Around the same time he made the Fatburger investment, Wiederhorn persuaded the board to alter his employment contract so he could not be fired even if convicted of a felony--as long as the crime didn't directly involve Fog Cutter.

FORBES: A Juicy Tale