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Bharat Patel and Jay Patel took my $25,000 and gave me a bogus check signed by Bharat who is not a signatory on the account

In June 2017 I agreed to invest in opening a restaurant in Armonk New York as per the above name and style INDIQ on the basis that the restaurant would be up and running in 4-6 weeks. My payment of $25,000 was made to Jay Patel as an individual responsible who accepted this payment with full legal responsibility. After I paid Jay Patel the money I visited the Armonk location every week and was disappointed to see that Jay Patel never came to the site and Bharat Patel was smoking Marijuana at the location and was completely intoxicated with alcohol by 2pm every single day. He proudly brags that the main reason why his employees have stayed with him so long is because he has an open drinking policy where his staff start hitting the bottle as early as 10am. This made me uncomfortable as I am not sure if the New State Department allows this. When the offer was made to me, I was told that the rent would be $4,500/month which was attractive to me. I was not shown the copy of lease at that time. It was only 3 months later that I was told that there was additional $3000 taxes per month and the Bharat Patel had agreed to pay back taxes of the landlord as well. Meanwhile, despite repeated requests Jay Patel never provided me with share certificates or any proof that my investment was secured. Finally after seeing no development and poor management in their existing location Port Chester along with the alcohol issues of management and staff, Bharat Patel and Jay Patel agreed to cancel our agreement and refund the money. So In December, Bharat Patel came to my house, and gave me 2 checks in lieu of refund of my money, $25,000 towards the money I had paid him and additional $5,000 in lieu of the inconveniences. The checks were post dated to 2/1/2018. When I took the checks to the bank in February and deposited them. I received a text message from Jay Patel saying that his father had signed on checks on which he was not an authorized signatory. I withdrew the checks from the bank and went to Wells Fargo in Port Chester, and the Head Teller at Wells Fargo informed me that Bharat Patel was indeed not an authorized signatory on those checks. Over the past several months I have made several attempts to give them an opportunity to repay me. I explained to them that I had not given them a loan, and I simply wanted my money back as they had agreed to cancel the investment agreement. I even offered to accept as low as $500/week as a payment plan which should not be difficult since they had 2 running restaurants. Each time I asked a payment schedule I was told they don’t know when and cannot commit to a payment schedule. So many excuses, they said that they had sold a food truck and waiting for money to pay me back, they had a fire in their restaurant caused by intoxicated kitchen staff, Bharat needed to get a new set of teeth, etc etc. Finally, I have deposited the 2 checks end of September which have bounced. Clearly evident that besides bank fraud and check embezzlement, they show no intention of refunding my money. I sent them a message to cure this debt by today and once again my repeated phone calls have been ignored. Both father and son have proven to be dishonest.
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1 comment
#1599124

I'm turning u guys over 2 the F.B.I. THE TRACKING NUMBER U GAVE ME DOESN'T EXSIT.

IT A BOGUS #. I'M A DAUGHTER OF AN AGENT OF THE FBI.

EITHER RETURN MY MONEY OR SEND ME MY ITEM. OR U WILL B PROSECUTED.

ID
#1375971 Review #1375971 is a subjective opinion of poster.
Location
Armonk, New York
Service
Indi Q Owner
Cons
  • Jay and bharat patel take money and issue fraudulent checks
Reason of review
Problems with payment
Loss
$40000
Preferred solution
Full refund

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