INVESTORS:
The United States District Court for the Southern District of Florida has appointed Bernice C. Lee as the Receiver over the following Receivership Entities: Location Ventures, LLC, URBIN, LLC, Patriots United, LLC; Location Properties, LLC; Location Development, LLC; Location Capital, LLC; Location Ventures Resources, LLC; Location Equity Holdings, LLC; Location GP Sponsor, LLC; 515 Valencia Sponsor, LLC; LV Montana Sponsor, LLC; URBIN Founders Group, LLC; URBIN CG Sponsor, LLC; 515 Valencia Partners, LLC; LV Montana Phase I, LLC; Stewart Grove 1, LLC; Stewart Grove 2, LLC; Location Zamora Parent, LLC; URBIN Coral Gables Partners, LLC; URBIN Coconut Grove Partners, LLC; URBIN Miami Beach Partners, LLC; and URBIN Miami Beach II Phase 1, LLC in Case No. 23-24903-CIV-JB filed by the Securities and Exchange Commission against Rishi Kapoor and the Receivership Entities.
The SEC’s Complaint alleges that Rishi Kapoor used the Receivership Entities to operate a real estate investment scheme in violation of the anti-fraud provisions of the federal securities laws, among other things. On November 20, 2024, the Court entered a Judgment of Permanent Injunction and Other Relief as to Defendant Rishi Kapoor upon the Securities and Exchange Commission’s Unopposed Motion for Entry of Consent Judgment. Links to the Complaint, Order appointing the Receiver, Judgment and other court documents are available under the “Court Documents” section on this page. The Court has taken exclusive jurisdiction and possession of all assets of the Receivership Entities, and granted the Receiver, among other things, all powers, authorities, rights, and privileges possessed by the officers, directors, managers, and general and limited partners of the Receivership Entities.
COURT DOCUMENTS
REPORTS AND STATUS CONFERENCES
The Court has scheduled monthly status conferences beginning November 2024 through April 2025. The Court has entered an Order rescheduling the April 2, 2025 status conference to April 16, 2025 at 1:00 p.m. and setting oral argument on all pending motions that are ripe for resolution on the same date [DE 365] . The Receiver will be filing a monthly status report the Wednesday before the status conference. Prior status reports and interim quarterly reports can be viewed below. Additional court documents can be viewed on the Court Documents Page.
- 02/26/25 Receiver’s Status Report for 3/05/2025 Hearing
- 01/30/25 Receiver’s Fourth Interim Report
- 01/29/25 Receiver’s Status Report for 2/05/2025 Hearing
- 01/01/25 Receiver’s Status Report for 1/06/2025 Hearing
- 11/27/24 Receiver’s Status Report for 12/04/2024 Status Conference
- 10/30/24 Receiver’s Status Report
- 10/30/24 Receiver’s Third Interim Quarterly Report
- 7/30/24 Receiver’s Second Interim Quarterly Report
- 4/30/24 Receiver’s First Interim Quarterly Report
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