Rishi Kapoor
Former CEO
Conexión con Miami
Kapoor's alleged fraud prevented the construction of promised luxury condos in key Miami neighborhoods like Coconut Grove and Miami Beach, leaving investors with significant losses. The scheme funded personal assets such as a 68-foot yacht and a Cocoplum residence, undermining trust in South Florida's real estate investment market. Prosecutors seek to seize these assets for investor restitution, highlighting risks in private developments.
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Rishi Kapoor, a 41-year-old Indian-origin developer formerly based in Miami, served as CEO of Location Ventures, a company focused on luxury condo projects in South Florida areas like Coconut Grove, Miami Beach, Coral Gables, and Fort Lauderdale. He raised approximately $85 million from investors promising high-end developments, but most projects were never built as funds were allegedly misappropriated for personal use. Kapoor was indicted in March 2026 on federal charges including wire fraud, money laundering, bank fraud, tax evasion, and failure to file tax returns. He was arrested in Fort Lauderdale on March 6, 2026, and denied bail as a flight risk. Previously, in 2024, he settled a separate SEC civil fraud case without admitting wrongdoing. His activities drew scrutiny for ties to former Miami Mayor Francis Suarez, though Suarez was not charged.