Board members in the ownership group of Ballast Point Brewing say the craft beer pioneer is at risk of “operational collapse” amid a legal battle claiming a fellow member took out millions in unauthorized loans. A pair of civil complaints filed this April allege William Trzos, member of Kings & Convicts Holding Co., LLC, which owns Ballast Point, obtained $3 million from lenders without the knowledge or approval of the rest of the group.
The lawsuits say the San Diego-based brewery, once valued at $1 billion dollars, now bears “millions of dollars in unauthorized obligations, garnished bank accounts, intercepted revenue, and the imminent threat of operational collapse,” according to the San Diego Union-Tribune, who reviewed the filings. Plaintiffs accuse Trzos of embezzlement and claim the $3 million in loans — taken out from three separate lenders between mid-2025 and this February — have put the brewery in jeopardy of closure.
