Miami developer Rishi Kapoor, tied to ex-Mayor Francis Suarez, arrested on federal fraud and tax charges

Federal case targets former Location Ventures CEO after earlier SEC action

Federal authorities arrested Miami developer Rishi Kapoor on Friday, March 6, 2026, after a grand jury indictment alleged a wide-ranging fraud and financial crimes scheme connected to his former real estate development business.

Kapoor, identified in federal court filings as the former chief executive officer of Location Ventures, is accused of misleading investors about key financial facts involving the company and its development activity across several South Florida markets, including Coral Gables, Coconut Grove, Miami Beach and Fort Lauderdale.

Allegations: investor misrepresentations, money laundering, and tax offenses

The indictment alleges Kapoor misrepresented how much personal money he invested into Location Ventures, including claims that he had invested $13 million alongside his business partner and family when he had contributed roughly half that amount. Prosecutors also allege the scheme involved the movement of funds through financial channels in a manner that triggered money laundering charges.

Federal prosecutors listed a series of charges that include conspiracy to commit wire fraud, wire fraud, money laundering, conspiracy to commit offenses against and to defraud the United States, failure to pay payroll taxes, tax evasion, failure to file tax returns and bank fraud.

• Core fraud counts focus on alleged misrepresentations to investors and the use of interstate communications.
• Financial counts include money laundering and bank fraud allegations.
• Tax counts include allegations involving payroll taxes, tax evasion, and failure to file returns.

Background: Location Ventures and URBIN, and prior regulatory litigation

The criminal allegations follow earlier civil enforcement action by federal securities regulators. In February 2024, the Securities and Exchange Commission announced emergency relief that included an asset freeze as part of a civil case alleging a multimillion-dollar real estate investment fraud scheme tied to Kapoor and entities associated with Location Ventures and URBIN.

The SEC case and the federal indictment are separate proceedings, with different legal standards and potential outcomes, but both center on alleged investor deception in connection with real estate investment fundraising.

Political link: prior consulting arrangement involving former Miami mayor

Kapoor previously drew scrutiny for a paid consulting relationship with former Miami Mayor Francis Suarez through URBIN. The arrangement became a focal point of public attention because it overlapped with periods when Kapoor’s companies pursued approvals related to development activity. The federal indictment announced March 6 does not identify Suarez as a defendant.

What comes next

Kapoor will proceed through the federal criminal process in the Southern District of Florida, where the court will address pretrial release conditions, scheduling, and evidence disclosure. Prosecutors must prove the charges beyond a reasonable doubt, and Kapoor is presumed innocent unless and until proven guilty in court.

The case is expected to be closely followed by investors, lenders, and local government stakeholders given the scale of the allegations and the number of South Florida projects associated with Kapoor’s former companies.