The Miami Herald reported that the FBI is investigating developer Rishi Kapoor, CEO of Locations Ventures, for allegedly making payments to Miami Mayor Francis Suarez. The payments were reportedly made to get approval for a $70M project. FBI agents are investigating whether the monthly $10,000 payment made since 2021, totaling around $170,000, constitutes a bribe. - According to internal meeting notes seen by Miami Herald, Kapoor met Suarez and City Manager Arthur Noriega last year to discuss permitting problems with Urbin Coconut Grove.
- The mixed-use development project features 54 condos, ground-floor retail, and co-working spaces.
- Kapoor is also embroiled in another SEC investigation looking into whether Location Ventures sold investment contracts without registering them as securities, misrepresented potential profits to investors, or misused funds for personal expenses.
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