India, Aug. 28 -- Rishi Kapoor, a real estate developer of Indian descent, has received a sentence of 11 years and four months in prison from a US federal court due to a real estate fraud case that involved nearly $89 million, equivalent to approximately Rs.745 crore.

Kapoor, 41, admitted guilt to charges concerning money laundering and a conspiracy linked to payroll taxes. The court has additionally mandated financial responsibilities, which include restitution to investors, lenders, and government entities impacted by the scheme, Miami Herald reported.

On Thursday afternoon, Kapoor appeared before U.S. District Judge K. Michael Moore in Miami federal court, maintaining a stoic demeanor while dressed in a beige jumpsuit, shackled, and ...