Two Indian restaurants in Colorado, Bombay Clay Oven and Saucy Bombay, are facing legal issues for allegedly deceiving investors out of $380,000. The owners of these restaurants, operating under The Bombay Group (TBG), promised investors nationwide expansion but instead misused the funds for rent and other expenses.
In a disappointing turn of events for two promising Indian restaurants in Colorado, legal troubles have surfaced regarding their handling of investor funds. Bombay Clay Oven and Saucy Bombay, owned by The Bombay Group (TBG), are accused of misleading investors with promises of national expansion only to misuse the invested funds for operating costs.
What Exactly Happened:
- The Colorado Division of Securities alleges that Bombay Clay Oven and Saucy Bombay misled investors by falsely promising nationwide expansion plans.
- Instead of using the $380,000 investment for growth as promised, the lawsuit claims that TBG diverted the funds towards rent, operating expenses, and questionable payments.
- TBG intended to franchise Saucy Bombay to capitalize on the fast-casual dining trend, but their actions have led to legal repercussions.
This case serves as a stark reminder of the risks associated with investment and underscores the crucial importance of due diligence.
As legal proceedings unfold, it underscores the need for transparency and accountability in the restaurant industry to protect investors and maintain trust within the community.
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