Lawsuit Alleges Lavish Spending at Celebrity-Backed Vegas Steakhouse

Founders of Toca Madera accused of defrauding investors to fund personal expenses, including travel and OnlyFans models

Feb. 5, 2026 at 5:07pm

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A lawsuit filed in the U.S. District Court for Arizona alleges that the founders of the popular Toca Madera steakhouse chain, including locations in Las Vegas and Los Angeles, defrauded investors by siphoning millions of dollars from the restaurants to fund lavish personal expenses such as luxury homes, sports cars, and appearances by OnlyFans models.

Why it matters

The case highlights the risks of high-profile restaurant investments and the potential for abuse of investor funds, especially in the celebrity-driven dining scene. It also raises questions about corporate governance and oversight at rapidly expanding restaurant groups.

The details

According to the lawsuit, Tosh Berman and Michael Tanha, the co-founders and chairmen of Toca Madera's parent company Noble 33, along with the company's CFO Mahdiar Karamooz, are accused of diverting investor funds to pay for personal luxuries. These alleged expenses include private jets for OnlyFans models, a Colorado ranch, a $5 million Miami home, high-end sports cars, and more. The defendants are also accused of concealing the true financial details of Super Bowl weekend buyouts at the Toca Madera locations in Scottsdale and Las Vegas.

  • The Toca Madera Las Vegas location opened in August 2022.
  • The lawsuit was filed on January 30, 2026.

The players

Tosh Berman

Co-founder and chairman of Noble 33, the parent company of Toca Madera and Casa Madera restaurants.

Michael Tanha

Co-founder and chairman of Noble 33, the parent company of Toca Madera and Casa Madera restaurants.

Mahdiar Karamooz

Chief financial officer of Noble 33, the parent company of Toca Madera and Casa Madera restaurants.

Noble 33

The parent company that owns the Toca Madera and Casa Madera restaurant chains.

Toca Madera

A Mexican steakhouse chain with locations in Las Vegas, Houston, and Arizona.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights the potential for abuse of investor funds in the high-stakes restaurant industry, especially when rapid expansion and celebrity branding are involved. It raises questions about corporate governance and the need for stronger oversight to protect investors from fraudulent activities.