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Story summary
- Rishi Kapoor, a Florida real estate developer, faces federal charges for an $85 million fraud scheme.
- The indictment accuses wire fraud, money laundering, tax evasion, and bank fraud.
- Kapoor allegedly misled investors about Location Ventures and diverted more than $2 million for personal use.
- He failed to pay payroll taxes and misrepresented finances to obtain loans.
- The U.S. Securities and Exchange Commission has filed a civil action against him.
