• Sun. Oct 1st, 2023

    Coral Gables Mayor and Lobbyist Leave Real Estate Brokerage tied to Corruption Charges

    ByEmma Wolukau-Wanambwa

    Sep 19, 2023
    Coral Gables Mayor and Lobbyist Leave Real Estate Brokerage tied to Corruption Charges

    Coral Gables Mayor Vince Lago and lobbyist William “Bill” Riley have both left Rosa Commercial Real Estate, a politically connected real estate brokerage that recently earned a six-figure commission from a deal with a real estate developer currently under federal investigation. Lago’s name is no longer affiliated with the brokerage in state records, and his license is listed as “inactive.” Riley’s license became inactive on the day of his arrest, which charged him with bribery.

    Riley claims that his departure is unrelated to the corruption charges and instead points to a previous report by the Miami Herald regarding allegations against the brokerage. The commission Rosa Commercial Real Estate received was from a sale involving developer Rishi Kapoor, whose business dealings are currently being investigated by the FBI, SEC, and IRS. Lago, who denies any involvement in the transaction and any wrongdoing, had recently transferred his real estate license to the brokerage and was also leasing space to Kapoor’s firm in a building he co-owned.

    Prior to Riley’s arrest, he and Lago were among the five registered sales agents at the brokerage. Currently, only Hialeah Mayor Esteban “Steve” Bovo and Amanda Bonvecchio, the wife of former Hialeah Councilman Oscar De La Rosa, are listed as agents. Granell and another individual, Anthony Casas, have inactive licenses.

    Specific dates for Lago’s license becoming inactive have not yet been reflected in the state’s database. Both Lago and Granell have not commented on the matter. The city spokeswoman emphasized that the issue is of a personal nature and not related to the City of Coral Gables.

    Riley joined Rosa Commercial Real Estate in early 2020 but said he had only closed one deal with the brokerage. He claimed to have preexisting relationships with De La Rosa and Bovo, but only had passing interactions with Lago and Granell at social events.

    Riley and City Commissioner Alex Díaz de la Portilla face charges of money laundering, unlawful compensation, bribery, and conspiracy. Riley is additionally charged with failure to disclose lobbyist expenses. Both individuals deny the allegations.


    – Miami Herald: [source]
    – Miami Herald: [source]