Miami developer Rishi Kapoor indicted in $85 million fraud scheme
By Joshua Ceballos
March 11, 2026 at 1:41 PM EDT
A federal grand jury has indicted Miami-based developer Rishi Kapoor in an $85 million fraud scheme.
The indictment, filed on March 3, alleges Kapoor defrauded investors. Jurors claim he used funds invested into his company, called Location Ventures, to buy two yachts, a Rolex and a mansion in the affluent Cocoplum neighborhood.
The developer was previously being investigated for his connections to former Miami City Mayor Francis Suarez. A Miami Herald investigation revealed Kapoor hired Suarez as a consultant while his company had business dealings with the city.
Suarez was not mentioned in the indictment and denies any wrongdoing.
READ MORE: Who speaks for the City of Miami in times of crisis?
This is a News In Brief report. Visit WLRN News for in-depth reporting from South Florida and Florida news.
The indictment, filed on March 3, alleges Kapoor defrauded investors. Jurors claim he used funds invested into his company, called Location Ventures, to buy two yachts, a Rolex and a mansion in the affluent Cocoplum neighborhood.
The developer was previously being investigated for his connections to former Miami City Mayor Francis Suarez. A Miami Herald investigation revealed Kapoor hired Suarez as a consultant while his company had business dealings with the city.
Suarez was not mentioned in the indictment and denies any wrongdoing.
READ MORE: Who speaks for the City of Miami in times of crisis?
This is a News In Brief report. Visit WLRN News for in-depth reporting from South Florida and Florida news.