How about we reset, then. Let's figure out where we are with 2 episodes left.
Frank Semyon (VV) was a local hood that rose up to run a criminal enterprise out of Vinci, CA. In a bid to go legitimate, he sold off his clubs and side businesses moving drugs and set up a casino of sorts. After saving up $5MM, he put that money into an investment with a local politician named Ben Caspere to buy up development in a travel corridor going through Vinici as part of a federal plan to put a high speed rail into California. Semyon and Caspere were pitching a group of investors to join them, and the primary candidate being Opulent Russian dude.
Caspere was supposed to complete the deal with the land company, Catalyst. Specifically, Caspere was supposed to be fronting the $10MM buy in along with Semyon; however, the buy in was actually only $7MM unbeknownst to Semyon.
Apparently, Caspere was also a freak in the sack. He visited these freaky sex parties with other politicians and businessmen. Presumably, some of those guys were also with Catalyst or were otherwise in on the Catalyst deal. Caspere recorded these dudes doing freaky sex things with the intent of blackmailing them. Somehow Caspere got himself killed, and because he never paid Catalyst (or did he?) Semyon's $5MM is in the wind.
Woodrugh, the unhinged self-hating gay warrior poet highway cop, finds Caspere's dead body. He hooks up with straight-laced county cop with serious daddy/men issues Bezzerides to investigate Caspere's murder. Their bosses have raging clues to take down the Vinci VIPs, who are apparently turbo corrupt. The problem: Vinci puts the dirty drunk coked out murder detective Velcoro on the case to be their inside man with the job of shutting this investigation down without officially dirtying the Vinci VIPs.
Velcoro, is also working for Semyon. And now that Caspere is dead, he tasks Velcoro with finding Caspere's killer in hopes of finding his missing millions. This investigation gets Velcoro shotgunned by Birdman after discovering Caspere's secret cash of recording equipment. Luckily for Semyon, Catalyst will give him his investment properties gratis if he can track down the hard drive Birdman took and keep their freaky sex secrets in the dark.
A series of uber convenient tips leads the trio of cops to a gang banger that supposedly fenced stolen goods from Caspere's house. After a crazy shootout, the gang banger is dead, and Caspere's murder is wrapped. Our trio of investigators and Semyon don't buy it, and luckily through a series of unfortunate events they are all freed up from their obligations to continue their investigations.
These sex parties Caspere was in involved with had these super high-end hookers that are run clandestinely by Semyon's red-headed right-hand man. Apparently, these girls are hooked up by creepy Nip/Tuck doc that also knew Caspere, as well as Bezzerides dad and the mayor of Vinci. After a beating, Nip/Tuck keys the team in on where these sex parties are going down.
Bezzerides gets into the party to do a little recon. While there, she finds a missing girl she had been on the hunt for since the beginning of the show. Rather than get the intel, she slap chops a dude and makes a break for it with the missing girl. Luckily for she, she runs right into Woodrugh, who was breaking in try and find Bezzerides and get eyes on her? Don't worry about that.
The important thing is that it doesn't matter that Bezzerides flipped out, because while Woodrugh was Metal Gear Solid'ing the compound looking for her, he happened to overhear Opulent Russian (remember him from bullet point one!) talking to Catalyst dill about the fact that his investment was a lot more substantial than Caspere's and not to worry. Woodrugh total Silent Snaked in the there and snagged those contracts Opulent Russian and Catalyst dill signed before heading back to the Orgy Fest 2015. Those documents are covered in signatures, presumably of all the important people involved in the deal. Maybe some of those people will know who killed Caspere.
Semyon, working his own investigation, goes through a cartel to get access to gang banger's girl friend. She tells Semyon that someone paid her to fence Caspere's goods. That guy might have been a cop.
Woodrugh, working a straight investigation (get it!?!) has also found out that a cop was inquiring about Caspere's blue diamonds before their existence was known. Those diamonds were stolen by someone back in 1992 during the LA Riots.
-------------------
SO:
Did someone kill Caspere because they knew that he was blackmailing the Vinci VIPs and Catalyst big dogs?
Or did someone kill Caspere to rob him for the diamonds because he had been trying to fence them to generate the $2MM needed to get his portion of the Semyon/Caspere Catalyst cash?
Or did someone kill Caspere to get him and Semyon out of the way so they could take advantage of the land deal?
Opulent Russian wants to move Caspere and Semyon out to take advantage of the Caspere's deal. Catalyst and the Vinci VIPs agree because they know Caspere is a blackmailing SOB, and his death eliminates the risk of exposure. The murder also gets them the opportunity to rob Caspere of $5MM in cash and another $2.5MM in blue diamonds Semyon's red-headed right-hand man knows the players through the sex parties, and he kills off Semyon's muscle in what's basically a power move to connect himself with the new power players.
(EDIT: FORMATTING)
