SEC accuses developer who had Miami mayor on payroll of fleecing millions from investors

MIAMI — The Securities and Exchange Commission has frozen the bank accounts of a politically connected developer and accused him in a lawsuit of fleecing millions of dollars from dozens of investors in his South Florida real estate projects, as well as failing to pay more than $1 million in federal payroll taxes. The federal agency filed suit against Rishi Kapoor under seal in Miami on Dec. 27 and then quietly obtained a judge’s order freezing his bank accounts and properties to preserve his remaining assets to help pay back investors. The order, unsealed on Tuesday by U.S. District Judge Ceci...