Celebrity Chef Ran Restaurants Like Ponzi Scheme, Suit Says

Law360 (May 17, 2018, 3:24 PM EDT) -- A New Jersey couple who invested in a celebrity chef’s now-shuttered New York City restaurant has sued him for allegedly depriving investors of payouts by moving cash into his restaurant group, according to documents folding the suit into bankruptcy proceedings filed in New Jersey federal court Wednesday.

Tom and Maria Spinner, through their company Spinner Family Holdings LLC, said Iron Chef Jose Garces initially paid them net cash flow distributions from his successful restaurants in Philadelphia and New Jersey but later began sweeping the money into...
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