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How These Restaurants Duped Investors of $380,000 With Fake Promises of Lucrative Expansion

As per reports, both restaurants were owned by The Bombay Group (TBG) which had plans to expand at an ambitious rate.

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Explained: How 2 Indian Restaurants Duped Investors Of Rs 3 Crore In US

Bombay Clay Oven and Saucy Bombay, two Indian restaurants in the US state of Colorado have been accused of defrauding investors of $380,000 or Rs 3,16,56,926 by employing deceptive tactics, including "half-truths and lies".

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Fraudulent Activities by Indian Restaurants in Colorado: Officials Report USD 380,000 Loss to Investors

Fraudulent Activities by Indian Restaurants in Colorado: Officials Report USD 380,000 Loss to Investors
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How Bombay restaurants duped US investors of Rs 31 5 cr by selling great franchisee dream

According to a lawsuit filed by the Colorado Division of Securities, the owners of Bombay Clay Oven and Saucy Bombay allegedly used "half-truths and lies" to entice investors with ambitious plans for a nationwide expansion. They purportedly spent the investors USD 380,000 on rent, operational expenses, and Ponzi-like payments, as per a report by the local newspaper "BusinessDen."

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Two Indian restaurants in Colorado duped investors of $380,000: Officials

US & Canada News News: The Colorado division of securities has filed a lawsuit against two Indian restaurants, Bombay Clay Oven and Saucy Bombay. The lawsuit claims that the

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