A lawsuit has been filed alleging fraud by The Bombay Group (TBG) in their plan to franchise Saucy Bombay, exploiting the burgeoning trend of fast-casual restaurants. The state’s securities commissioner, Tung Chan, revealed that investors were misled about the nature of their investments and have not received the promised returns.
According to Chan, the investors had placed their trust in The Bombay Group and its restaurant concept, Saucy Bombay, with the expectation of returns. However, the lawsuit contends that crucial information was withheld from investors, leading to financial losses and unfulfilled commitments.
“If you have invested with The Bombay Group, please contact the Securities Division right away,” urged Chan, underscoring the seriousness of the allegations and the imperative for affected individuals to seek assistance.
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