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No Cash Back

Some Tasca investors are nervous about the money. So was the state of Texas.

Steve Hughes, who works in the enforcement division of the comptroller's office, reports, "There was an action taken between July 12 and July 13. We call these limited seizures -- they usually don't have the full amount on hand." Since the "action" -- which usually involves armed, plainclothes agents coming into a bar and asking the customers to leave, then presenting the bill to the person in charge -- Hughes reports, "They have gotten square, and we have closed the collection case for the particular period that covers." Hughes also found that an action was taken around June 22 to collect alcohol taxes of $7,868.94 at the Red Cat.

What the future holds for Refaey and his investors is uncertain. The treasurer's report to the partners reveals net income from the Red Cat for the second quarter of this year to be $362. Refaey did not return our call for comment.

What began as a fairy tale has turned into a morality tale, or perhaps a fable, such as the one about the goose that laid the golden eggs.

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