A once-rising developer who put Miami’s former mayor on his payroll was arrested by federal agents Friday on fraud charges, including swindling investors of millions of dollars.
Rishi Kapoor, who formerly lived in a waterfront estate in the Cocoplum neighborhood of Coral Gables, will have his first appearance in Miami federal court on Friday afternoon to face fraud and other charges stemming from his role as the chief executive officer of Location Ventures and its subsidiary URBIN. Both companies, before their collapse in 2023, developed and planned several mixed-use condo projects in Coral Gables, Miami and Miami Beach.
Details of Kapoor’s indictment are not yet publicly available because the case is still under seal…