Brief by Shorts91 Newsdesk / 03:50am on 25 Apr 2024,Thursday India Global
Two Indian restaurants in Colorado, Bombay Clay Oven and Saucy Bombay, are accused of scamming investors out of $380,000. The Colorado Division of Securities claims the owners used deception to lure investors into funding a nationwide expansion. Instead, the money was spent on rent, operating costs, and Ponzi-like payments. The Bombay Group, which owned the restaurants, partnered with securities broker Michael Bissonnette. Both defendants refused to comment on the allegations. This comes as state regulators seek to recover the lost funds. The story was reported by local newspaper "BusinessDen."
