A Miami real estate developer of Indian origin has been charged in federal court in an alleged $85 million fraud scheme that was used to fund a luxury yacht and a posh lifestyle.
41-year-old Rishi Kapoor was indicted in Florida on multiple criminal charges, including conspiracy to commit wire fraud, money laundering, bank fraud, tax evasion, failure to file tax returns and conspiracy to defraud the United States. Prosecutors in Miami unsealed the indictment earlier this month.
