on allegations of bribery and abuse of office in connection with an Austin real-estate developer who was a political donor.
Business Insider spoke with 15 people to learn more about the relationship between the three men, and the connections between Vista and World Class Capital. Initially, Sheth and Smith saw in Paul a promising young investor who reminded Sheth of himself at an earlier age, a person familiar with their relationship said. Both shared an Indian heritage, and Paul had serious ambitions to rise to prominence in the world of finance.
Most of Smith's investments were in debt instruments, some of which converted into equity investments, a person familiar with Smith's investments said. Today, Smith has less than $5 million in equity across three deals, the person said. According to people who know all three men, they were joined not just by an interest in real-estate investments but also by their fondness for nightlife. Smith and Sheth both liked to socialize, and Paul delivered an Austin nightlife experience for them, one person said.
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