Toca Madera is a popular Mexican steakhouse located in the Las Vegas Strip’s ARIA Resort & Casino. The restaurant’s owners are now facing a lawsuit in Arizona over claims they mismanaged investor funds, spending company cash on a myriad of personal purchases.
The federal complaint filed on January 30 contends that the plaintiffs invested more than $2m into related restaurant entities before being systematically defrauded by a group tied to Noble 33. It specifically names Mahdiar Karamooz, Tosh Berman, and Michael Tanha as defendants. As well as using company funds for personal use, they allegedly emailed false financial reports to investors.
plane tickets for OnlyFans models to attend restaurant openings
The list of where they spent the money contains some interesting items, including “multiple engagement rings” and a $5m house in Miami bought through a third party. Other noteworthy mentions include several luxury sports cars, such as a new white Ferrari, a residential ranch in Colorado, and plane tickets for OnlyFans models to attend restaurant openings.
The three defendants in the case also own restaurants in Los Angeles, Arizona, and Florida. After investors repeatedly sought financial records in 2024, they were sued. The defendants claimed that some investors transferred shares to third parties, which violates their operating agreements.
Some of the claims in the lawsuit include RICO, private securities fraud, aiding and abetting, and breach of fiduciary duty. They’re seeking a jury trial, damages (which treble under RICO), punitive damages, interest, attorney fees, and a constructive trust over assets traceable to the alleged conduct.
