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2 Indian restaurants cheat investors of ₹3 crore by using 'half-truths' in US
short by Shalini ojha / on Friday, 26 April, 2024
Two Indian restaurants, namely Bombay Clay Oven and Saucy Bombay, in US' Colorado allegedly cheated investors of $380,000 or ₹3,16,56,926, state regulators said. In a lawsuit, it was alleged that the owners used "half-truths and lies" to sell plans for a nationwide expansion. Later, they spent the money that shareholders invested on rent, a local report said.