President Richard Nixon purchased the first of his three waterfront homes, forming a compound known as the Florida White House, in 1969 to be close to his close friend and confidant, Bebe Rebozo and industrialist Robert Abplanalp (inventor of the modern spray can valve). Bebe Rebozo, owner of the Key Biscayne Bank, was indicted for laundering a $100,000 donation from Howard Hughes to the Nixon election campaign. President Kennedy and Nixon met for the first time after the 1960 Election loss by Nixon in an oceanfront villa at the old Key Biscayne Hotel. Plans for the Watergate break-in at Democratic headquarters were discussed at the Key Biscayne Nixon compound and, as the Watergate scandal unfolded, Nixon spent more time in seclusion there. Nixon visited Key Biscayne more than 50 times between 1969 and 1973. The U.S. Department of Defense spent $400,000 constructing a helicopter landing pad in Biscayne Bay adjacent to the Nixon compound and when Nixon sold his property, including the helicopter pad, there were public accusations that he enriched himself at taxpayer expense.