Yep, it's true. I spoke to someone earlier today who said her seven-year old niece had high cholesterol. Then I read this webpage from the University of Maryland Medicine about it, and found out that it does occur, especially if the parents have a history of it. They have actually developed cholesterol guidelines for children, which state that total cholesterol levels under 170 are acceptable. Among their recommendations are lean meats, low-fat or no-fat dairy products, lots of fruits and veggies, and whole grains. They also mentioned that parents need to watch their children's intake of trans-fats, which are major contributor to high cholesterol.

Here is a helpful cholesterol FAQ from the AHA. It contains warnings about high fat and high cholesterol foods.

So I was perusing the McDonald's website, and I happened to see their nutrition information, including their nutrition facts for their Happy Meals. A 4-pc McNugget meal with fries and a kids soda has 20g of fat, with 7.5g of it being the saturated and transfatty variety, and 25mg of cholesterol. A hamburger happy meal with fries and a kids soda has 20g of fat including 9g of saturated/trans fat and 30mg of cholesterol. Compare that to a cheeserburger happy meal which has 23g of fat, including 11g of saturated/trans fat, and 40mg of cholesterol.