Who is Rishi Kapoor? Indian-origin real estate developer sentenced to 11 years in $89 million fraud case
Rishi Kapoor, a 41-year-old real estate developer, was sentenced to 11 years and four months for an $89 million fraud scheme.
Rishi Kapoor, an Indian-origin real estate developer, has been sentenced to 11 years and four months in prison after pleading guilty to charges of money laundering and conspiracy related to a $89 million real estate fraud scheme in the United States. Kapoor, 41, appeared in U.S. District Court in Miami, where he admitted to defrauding investors, lenders, and government entities.
He also agreed to repay at least $70 million to over 50 investors in his South Florida residential developments and owes the IRS $800,000 in restitution. Kapoor expressed remorse for his actions, stating that he has caused "scars" and that his family has suffered significant losses. He will also serve time serving restitution to investors and lenders.
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