Rishi Kapoor to plead guilty in $85M federal fraud case
The disgraced former Location Ventures CEO Rishi Kapoor will plead guilty this week to money laundering and payroll tax conspiracy charges related to a federal fraud investigation. He will enter the plea on Friday, two months after he was arrested at a Fort Lauderdale hotel on his 42nd birthday, the Miami Herald reported. Federal prosecutors allege Kapoor orchestrated an $85 million fraud scheme that involved swindling investors, lying to banks and tax evasion. He faces at least 10 years in prison, according to the outlet. He was indicted on 37 criminal counts in March, the culmination of a multi-year investigation. […]This article originally appeared on The Real Deal. Click here to read the full story.
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