Denver-area Indian restaurant duped investors out of $380K, state says

Denver Post

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Private Equity: Alden Global Capital

Denver-area Indian restaurant duped investors out of $380K, state says

State regulators say that a local Indian restaurant with one location used “half-truths and lies” to sell investors on its grandiose plans for a nationwide expansion before spending the $380,000 that shareholders invested on rent, operating costs and Ponzi-like payments. Through a pair of lawsuits it filed April 16, the Colorado Division of Securities is seeking to recover lost investor cash from The Bombay Group and securities broker Michael Bi…