Buyers at Rishi Kapoor’s condo projects could get share of $4M in receivership funds
Some buyers and creditors who lost money in convicted developer Rishi Kapoor’s real estate schemes could split roughly $3.5 million in receivership funds. Bankruptcy attorney Bernice Lee, the court-appointed receiver for Kapoor’s defunct firm Location Ventures and its affiliates, is seeking authorization from U.S. District Court Judge Jacqueline Becerra to distribute the money. It would satisfy claims tied to Villa Valencia, a Coral Gables condominium completed in 2022, and a failed co-living condo development in Miami Beach, court records show. In May, Kapoor pleaded guilty to two felony counts of money laundering and payroll tax evasion conspiracy. His sentencing is […]This article originally appeared on The Real Deal. Click here to read the full story.
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