Sofia Falcone is an antagonist in DC Comics, first appearing during Batman: The Long Halloween. Falcone also agreed to be barred from the securities industry for at least five years. Falcone had big plans for taking millions of dollars out of Continental via fees and dividends, but recently told investors that insurance regulators are balking at such a hefty payout, making the business less attractive. As a result, his total exposure exceeded the entire issue of the MAAX bonds. You may cancel your subscription at anytime by calling If you will be attending let's connect! In 1985, she went to Milan Italy to model. Meet her below. Falcone recognized the impact that a personal admission of fraud would have on him and his businesses and adamantly rejected the offer and turned to Dontzin, a more aggressive litigator, arbitrator Caroline Antonacci wrote in her final award. Phil Falcone, pictured with his wife Lisa Marie, left, is accused of illegally using $113million of his company's money to maintain his life of luxury New York home: Phil Falcone is said to. But to former teammates who knew Falcone when he was an 18 year-old . Falconewas charged with driving while intoxicated. [28] Lisa was born in 1961 and grew up in Spanish Harlem and has an associate's degree from Pace University. Tap into Getty Images' global scale, data-driven insights, and network of more than 340,000 creators to create content exclusively for your brand. Gorzynski says he believes those issues have put pressure on [Falcone] and distracted him from his role leading the company.. Theyre misinformed. And when not blaming the SEC, Dontzin, or New York State, he says this investment is the main reason for his financial woes. The 7-foot-by-6-foot work which Falcone and his wife, Lisa Maria, featured as the centerpieceof their sumptuous living room, right across from where the piano sat fetched $7,500, a steal considering its list price was $23,500, Segev said. unlawfully bought equity securities in a public offering, after having sold short the same security during a restricted period, the release said. The pair began dating in 2001 and welcomed their first child together, daughter Ella Rae, two years later. But he's had his ups and downs. (The amount came to $2.5 million last year.) You dont see four aggrieved people fighting over assets and nobody initiating bankruptcy, points out Lutin, who has met with Falcone in person at the deluxe Park Avenue office, where modern art graces the walls. Philip Falcone was worth more than $2 billion a decade ago. However, there are several factors that affect a celebrity's net worth, such as taxes, management fees . He told Vanity Fair that that era on Wall Street wasLess political, more honest, less BS. The high times were fun while they lasted. It has since died.). Philip Falcone. When reached by The Post, Falcone said that unloading his stuff had nothing to do with raising money to pay debts. #1 Lisa grew up believing her aunt was her mother Lisa Falcone was born Lisa Velasquez, she grew up in Spanish Harlem. Philip A. Falcone is an American businessman and the founder of Harbinger Capital and LightSquared. She told Bloomberg BusinessWeek she was working as a model at the time. Its a $5billion lawsuit, he said. [12][13][14], A significant focus on Phil Falcone's investment activities has been the telecommunications company Lightsquared, which attempted to build a multibillion-dollar satellite-based network that would have supplied 4G wireless broadband in competition with AT&T and Verizon Wireless. He will get a lump sum payment of $20.5 million, plus $19.8 . Falcone continues defending his lavish spending spree. Earlier this year, HC2 announced it was planning to sell Continental, a move that stunned analysts who noted that Falcone had been touting the business as recently as November. <p>The fallen hedge fund star -- who amassed a $2 billion fortune from shorting the housing market before squandering the riches over the past 10 years -- is actively pitching investors on something called Blockchain.TV, The . The business plan was to buy and sell, I guess, stones or high-quality diamonds, or lend against them. Falcone shall not have any role in the day to day operations or management of Kanawha or CGIC [Continental] pre- or post-merger, states the final decision and conditional order of the proposed acquisition of Kanawha by Continental, a Texas domestic insurance firm. Philip Falcone's onetime chef says the former hedge fund manager never paid him the $60,000 he agreed to in a settlement over alleged racist remarks. Philip Falcone, who recently bought a 24million home that has a room for his pet pig, is said to have made hundreds of millions gambling that the British banking giant's share price would plummet. After all, a huge art collection and a trove of diamond, ruby, and emerald jewelry, along with two multimillion-dollar New York residences and Falcones hedge fund, Harbinger Capital Partners, were pledged as collateral. Sofia Falcone is a prolific mob boss; who succeeded in dismantling Oswald Cobblepot 's criminal empire and initiating the Falcone Home and School for Orphans . The New Yorkbased firm invests in loans backed by such property and with that in mind in 2016, it bought loans that Fortress Investment Group had made to Phil Falcone, the big-living former billionaire who a decade before had sat astride the world of hedge funds. After graduating, Falcone played professionally for the Malm Redhawks, a Swedish professional hockey team, until his playing career ended after one professional season when he sustained a leg injury. They are one of the most popular couples ever to appear on Married At First Sight Australia, and now Martha Kalifatidis and Michael Brunelli have expanded their family, as Martha has given birth to a healthy baby boy - Lucius. Join the conversation. Live like a Wall Street financier: Disgraced hedge fund billionaire Philip Falcone puts his sprawling St. Barts mansion on the market for $57.4million. Meanwhile, in 2011, Harbinger's main fund was down 47%. Billionaire hedge fund boss Philip Falcone and his wife Lisa Falcone were hit with a federal lawsuit by a private chef who claimed they neglected to pay him in full and subjected the Filipino. Harvard-educated businessman Philip Falcone . [23][24][25][26], On July 4, 2014, the SEC Office of the Whistleblower rejected a claim made by an individual requesting a reward for assisting in the investigation. Even his compensation at the company, where he earned $11.5 million in 2018, is subject to a wage garnishment order from the City of New York, according to an order filed in New York State court in August 2019. You will be notified in advance of any changes in rate or terms. Born June 12, 1925 in Roseto, Italy, he was a son of the late Joseph and Lucia (Denicola) Falcone. No One:Absolutely No One:I Wonder What Phil Falcone Is Up To? Debt-riddled ex-billionaire Philip Falcone has taken to hawking his home furnishings for chump change, just three years after cashing in with a record $77 million sale of his massive, ultra swanky Manhattan townhouse on 14-16 East 67th St. Debt-riddled ex-billionaire Philip Falcone has taken to hawking his home furnishings for chump change . Its not like Im having a heart transplant. Takes a Harder Line", SEC press release announcing Falcone settlement, https://www.sec.gov/about/offices/owb/orders/owb-2012-81-final-070414.pdf, Philanthropist With a Sense of Timing Raises Her Profile, "Lisa Falcone, writer, with Liliana and Carolina", "10 Under 10: The Power Children of New York", The Wall Street Journal, House of the Day, 'The $49m Town House Guccione's E. Side Pad Sold', "Check Out Phil Falcone's Breathtaking St. Barts Estate Mentioned in the SEC Complaint Against Him", "Michael Jackson's Lender Helps Hedge Funder Falcone", "Philip Falcone Claims He Can't Pay $60,000 Settlement, Former Chef Says", https://en.wikipedia.org/w/index.php?title=Philip_Falcone&oldid=1112383090, All articles with bare URLs for citations, Articles with bare URLs for citations from March 2022, Articles with PDF format bare URLs for citations, Short description is different from Wikidata, Pages using infobox person with multiple organizations, Articles lacking reliable references from October 2019, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 26 September 2022, at 02:31. Even Falcone admits that Ligado/Lightsquared has been an albatross. Theyve been in the works for some time, he says. Its a special artifact. On this Wikipedia the language links are at the top of the page across from the article title. It looked like it was straightfrom the showroom brand new. (He has not done so.) Given his past run-ins with regulators, Falcone acknowledges he isnt supposed to be managing that money. On another front, shareholder activists are trying to take control of the publicly traded holding company Falcone now heads, HC2 Holdings, arguing that he is running it into the ground. And to top it off, regulators are probing HC2s insurance subsidiary. Over the years, Lisa Marie has made headlines for using the n-word and getting arrested for drunk driving. Yes, please. Theres real value in the assets, and were doing a number of things from the top on down to extract the value, he says. and a $113 loan from his own private company. The SEC had charged Falcone with a number of serious offenses, as detailed in its initial release: Falcone used fund assets to pay his taxes, conducted an illegal short squeeze to manipulate bond prices, secretly favored certain customers at the expense of others, and . Typically, a quiet period happens before a company goes public but Falcone said there was no plan for the company to go public. Some people are calling it the bet of his life. Chisholm is about 100 miles from the Canadian border. Of course, given cryptocurrencies have cratered as Bitcoin plummets to less than $30,000 from an all-time high of more than $68,000 the network may be an even tougher sell at the moment. In 2009, Falcone owed federal and state authorities $113.2 million in taxes. Philip Falcone Admits His Mistakes, Lisa Maria Falcone Wants an Etiquette Book to Prevent Her Own, in, Todd Shields, 'Republicans Want Records of Philip Falcone White House Contacts', in, 'LightSquared Founder Philip Falcone Says He's Never Met President Obama, Denies That Network Interferes With Military GPS, Airline Safety', on, Kissinger Institute on China and the United States, "Class of 1984: Philip A. Falcone Minnesota Hockey Star Strikes Gold on Wall Street", "25 of the Biggest Hockey Players Working on Wall Street", Harbert Outperforming Falcone With 11% Return Suffers Asset Drop, Raymond Harbert, phantom investor in the Times saga, "The 40 Highest-Earning Hedge Fund Managers & Traders 2013", "Philip Falcone, Hedge Fund Chief in Exile, Is Stepping Down", "Phil Falcone Resigns From Harbinger Group, Collects $40.3 Million", "Falcone Steps Down From Harbinger Group to Focus on HC2", "LightSquared Founder Philip Falcone Says He's Never Met President Obama, Denies That Network Interferes with Military GPS, Airline Safety | Fox News Insider", "F.C.C. Phil Falcone is angling to profit from TV coverage of crypto assets an oddball bid to reverse a decade-long slide from being a billionaire to pleading that hes broke. He said it took him months to truly understand the complicated market, and he took home over $1 billion himself after the deal. Then theres HC2s insurance company, Continental General. You could have hurt someone or yourself and then Phil would've had to raise Wilbur on his own. 10 Fascinating Facts About The Fabulous Life Of Hedge Funder Kyle Bass>>, He just sold a stake in his Brazilian mining company to Carl Icahn in order to raise cash. We are delighted that you'd like to resume your subscription. There was a team in France that wascreating these pieces for royalty. One of HC2s main problems is its huge debt load. The next year the SEC opened an investigation. IRS is also interested in the Falcone's failure to pay their semi-annual tax bill in 2011. bring affordable internet access to rural America. He didn't know it then, but the SEC was investigating him at that point. Until his June 2020 departure from HC2 Holdings Inc., Phillip Falcone was widely known across the broadcast media industry as a flashy big spender on low-power broadcast TV . The Harvard-educated moneyman has been forced to sell everything from the fancy furnishings at his Upper East Side townhouse to artwork and even his Hamptons estate in recent years to pay off his roughly $100 million debt. Falcone was taking a lot of loans, some from banks, and a $113 loan from his own private company. March 1983 Lisa Maria Falcone is the totally wacky wife of hedge fund billionaire Philip Falcone. I mean Jesus Christ. But in 2008, when the financial crisis made stars out of hedge fund managers who profited from doom, few shone as bright as the man who was then the CEO of Harbinger Capital Management. Hes been vague on the details of how much he is looking to raise and how much he has raised, sources told The Post. Selina determines the assassins are after her, and she and Bruce encounter Ivy Pepper, Mario's daughter. Philip Falcone says of the $113 million loan he took from the fund he manages, Harbinger Capital Partners, to pay his 2008 taxesa move that has made him the subject of an S.E.C. Custom Content. As the knives come out, Bethany . Falcone, whose voting shares are only between 3 and 5 percent of HC2s total, says he agrees with the activists about reducing the companys debt and cutting overhead. She was sued for grabbing her gay servant&#39;s penis and housing him with her pet pig. He had a blue, three-piece suit that he wore often, and he always wore stylish shoes. Philip A. Falcone, the brash hedge fund titan who once managed $26 billion before stumbling and running afoul of regulators, is pressing ahead on a new comeback . Photo illustration by Johnny Simon/WSJ, Image: Bloomberg News, iStockphoto/Getty Images, New York County Clerk. [5][35] Also in 2008, Falcone bought a Saint Barthlemy villa for $39million. The facts really speak for themselves when you look at how theyve presided over bad investments, mounting debt, inappropriate expenses, and an overall culture of excess., He adds: Mismanagement and self-dealing [have] finally pushed the company to the brink of financial ruin.. It seeks $2 billion, plus damages. By January 2009, Harbingers assets under management had plummeted to $7 billion, even though Falcone refused to give some investors their money back. What Falcone did not tell investors on a March 16 analyst call was that the Texas Department of Insurance has told Continental that a limited scope exam would be conducted [and] would focus on corporate governance, related party activities, affiliated agreements and investment activities, according to the insurance firms 2019 annual report. Creditors have sought to freeze Philip Falcones bank accounts, garnish his wages and take his stock in a company he runs. Sign In. I presented [Scaminaci] with a refinancing plan that he didnt accept and now were going back and forth, Falcone says. When he announced the decision to sell the insurance business, that was quite shocking to me, says Sarkis Sherbetchyan, an associate analyst in the research division of B. Riley FBR. "I think the dream come true would be to be out there playing,"he told Forbes. The fallen hedge fund star who amassed a $2 billion fortune from shorting the housing market before squandering the riches over the past 10 years is actively pitching investors on something called Blockchain.TV, The Post has learned. [18], On June 27, 2012, the U.S. Securities and Exchange Commission filed securities fraud charges against Falcone and Harbinger Capital Partners, alleging that Falcone "used fund assets [of $113.2 million] to pay his taxes, conducted an illegal 'short squeeze' to manipulate bond prices, secretly favored certain customers at the expense of others, and that Harbinger unlawfully bought equity securities in a public offering, after having sold short the same security during a restricted period. Looking for cash buyers only - House on combo lockbox - Call Phil 267-988-2000. Neil Sheehy, from nearby. Including my kids tuition., Already a member? Falcone also agreed to be barred from the securities industry for at least five years. In 2013, Falcone paid the SEC $18 million to settle the charges. If, considering the charges, it seems to most like a pretty good outcome, Falcone doesnt think so. When asked about the close connection, Falcone brushes off the concerns. His starting salary was $20,000. It's no secret that one of our favorite hedge fund wives is Lisa Maria Falcone. Unfortunately, we'd hoped the woman who does what she wants, haters of the Upper East Side be damned, would return with the news her production company was putting the finishing touches on Wilbur Falcone's debut album and not this: at 2:25 p.m., 48-year-old Lisa Marie Falcone of Manhattan crashed her vehicle at the corner of Montauk Highway and Hayground Road in Bridgehampton, police said. The judge noted that Falcone faces a $74 million claim from Melody Business Finance, which lent him millions to buy his homes, an IRS lien and a lawsuit by New York State, which claims he owes $12 million in back taxes. Bars the Use of Airwaves for a Broadband Plan", "Philip A. Falcone and Harbinger Charged with Securities Fraud", "In Case Against Philip Falcone, a Warning to Others", Hedge Fund Manager Philip Falcone Banned as Investment Advisor For Two Years in SEC Deal, "Falcone to Admit to Wrongdoing as S.E.C. Read on and you'll find out how he got to where he is now. Falcone insists it is an informal exam, not an investigation. Philip Falcone grew up in Chisholm, Minnesota with nine siblings in a three-bedroom house. Lisa was born in 1961 and grew up in Spanish Harlem and has an associate's degree from Pace University. He believes that Dontzin should not be getting whats called a success fee, because the settlement hobbled him. (As market sentiment has turned bearish amid the coronavirus pandemic, it has fallen back.). Segev also snapped up a huge piece of art, a neoclassical French creation by painter Merry-Joseph Blondel and his partner Joseph Dufour, who did a series of wallpaper designs in the early 1800s depicting the Greek mythological figures Psyche and Venus. Gorzynski says the fault lies with Falcone. Finally, on August 19, the SEC and Falcone agreed to a deal in which he and Harbinger admitted breaking the law. What are you going to do, put it in the bank for your kids? he asks. He told a congressional committee in 2008 that his father never made more than $15,000 a year and his mother worked in a shirt factory. He claims to be working on such matters. Falcone has made it his mission not to pay this money, said ArthurEngoron, the New York State Supreme Court judge handling his financial mess ina hearing last March. Thats insane, he said. Philip Falcone NYT stock SEC Form 4 insiders trading. In 1985, she went to Milan Italy to model. Slutty Peacock? [5] In 1985, she went to Milan Italy to model. That lot of money is quite a wide range.. One of the things Lisa has most notably wanted to do, which her fellow Hedge Fund Wives will not, is take an out of the box approach to fashion. The controversial financier whose wife, Lisa Falcone, landed on Page Six for name-dropping Alicia Keys and using the N-word in front of her black personal chef claims he is "illiquid and. Hesnow offering the Steinway for $118,000. Philip A. Falcone, 95, of Northampton, passed away on Wednesday, January 6, 2021 at Fellowship Community, Whitehall. Falcone now owns about 45 percent of the company, which according to his best-case estimates would put his stake at a value of a little more than $3 billion. Also sold to an anonymous buyer on Feb. 20 was a pair of Italian baroque floor lamps from the Falcone living room that were listed for $7,300 but got just $1,500 at auction, and a contemporary red leather sofa from the couples study thatwas offered for $6,400 and went for $3,750. I was probably the one and only person that had to admit to something.. As for the fund, when reached his peak, though, he was managing $26 billion, in 2007 it returned 114%. Customer Service. By last year, he was representing himself in court, saying he couldnt afford a lawyer. Lisa Maria, an actress and film producer of Puerto Rican descent who grew up in Spanish Harlem, was accused ofusing the n-word and calling her chef Brian Villanuevas black girlfriend a chocolate-covered marshmallow.. In late 2018 it issued $470 million in senior secured notes with an interest rate of 11.5 percent a shockingly high rate that Falcone says was simply because of unfortunate market conditions at the time. Despite the SEC baron raising new capital, Harbinger Capital Management still exists largely in runoff mode, with a few investors stuck in two illiquid positions. On Monday, the FCC said that it approved, with conditions, Ligados application, which will primarily support 5G and Internet of Things services. HC2 recently booked a gain when it sold Global Marine Group, which installs, maintains, and repairs submarine communications cable. She met Philip Falcone, a former hockey player from Minnesota at a restaurant. It will be interesting to see how they feel about the long-term plan to turn the firm into a purveyor of couture gowns. [2][7] He was also Senior High Yield trader at First Union Capital Markets in Charlotte, North Carolina. After originally investing about $700 million of his own money in LightSquared, Falcone believes that stake is worth something north of $50 million today. The Phil Falcone net worth and salary figures above have been reported from a number of credible sources and websites. Before the charges were even filed, Falcones lawyers at Paul Weiss a prominent law firm with expertise in white-collar defense told Falcone that the SEC was insisting he admit to a fraud charge and agree to a cease-and-desist order as part of any settlement, says the recently unsealed arbitration award to Dontzin. [7] From 1990 to 1995, he served as president and CEO of AAB Manufacturing Corporation". [23], Under the terms of the deal, Falcone will have to pay a total of $11.5million of his own money to settle the charges. Success would take him from being a money manager, to being a titan of American business. View Philip Falcone results in Pennsylvania (PA) including current phone number, address, relatives, background check report, and property record with Whitepages. He also lent the bonds to the short-sellers, and then bought them back when the traders sold them. investigation.. He also paid $39 million for a villa compound on St Barts, where his wife redecorated and renamed its bedrooms after such famous designers as Herms, Louis Vuitton, and Christian Dior. Whether thats true or not, one thing is certain: Falcone needs all the money he can get, especially as he says HC2 is his only source of income. He has always had a flair for fashion but being a big time investor, can't color outside the lines with his own attire. Lisa Falcone with Daughters Liliana and Carolina - New York Magazine Look Book - Nymag Lisa Falcone, Writer, with Liliana and Carolina By Amy Larocca Photo: Jake Chessum How old are your. In addition to his cherished wife of 30 years, Michelle, and his parents, survivors include four adored children, Philip, Robert, Matthew and Marissa Falcone; father and mother-in-law, Robert. Embattled former billionaire Phil Falcone sent a reporter a series of vulgar text messages after she published a story Tuesday about his plans to cash in on cryptocurrency. Mr. [2][3][5] He attended Harvard University on financial aid and graduated with a Bachelor of Arts in Economics in 1984. Itll be all right, Mrs. Falcone; itll be all right, Sheehy recalls telling Caroline Falcone as the car chugged to life and headed east. This story has been shared 120,570 times. In a comment to The Post, Falcone said there was a quiet period and he was not able to discuss the crypto network. He's still worth billions, has a stunning wife and two daughters, and lives in a fabulous mansion. Phil Falcone has been in the news lately, and it hasn't been good. Philip Falcone in Pennsylvania 38 people named Philip Falcone found in Philadelphia-Wilmington-Atlantic City, Allentown-Bethlehem-Easton and 3 other cities. Falcone doesnt deny he owes Melody the money. $ + tax [8], He is a founding council member of the Kissinger Institute on China and the United States. However, he has yet to raise the necessary funds to actually launch the platform. Youve got to put things into perspective.. [20][21] The short-sellers could only liquidate their positions by contacting Falcone directly. Including my kids tuition.. Under the circumstances, it looks like something has to give. "I'm behind on virtually every. [27], Falcone is married with two children, and lives in New York City. [33][34], In 2008, Falcone bought a house on the Upper East Side, formerly owned by Jeremiah Milbank and later Bob Guccione, for $49million. Falcone, for his part, says simply: The important thing is that I can multitask. By last year, he was representing himself in court, saying he couldn't afford a lawyer. Falcone has repeatedly told creditors his problem is illiquidity, not poverty, and begged them to wait. Fall 1980 Enters Harvard University to play forward on the hockey team. The good times, however, were short-lived. Sure. So he looks to Lisa (aka his muse) to trot out his creations. As is de rigueur for moguls, Falcone also amassed an art collection with works by such artists as Claude Monet, Pablo Picasso, Andy Warhol, Camille Pissarro, and Edgar Degas. But he particularly likes to point to a $4 million service agreement that HC2 has paid to Harbinger annually, largely to occupy the office space that still has Harbingers name on the door. Under the deal, Falcone would have been banned from operating as an investment advisor for two years. When financier Philip Falcone entered into a settlement with the Securities & Exchange Commission in 2013, he told his lawyer Matthew Dontzin of Dontzin Nagy & Fleissig that it was the right move . Yes. Three cell phones containing Philip Seymour Hoffman's number were found in the building where cops made four drug arrests, but it's unclear whether any of the suspects are tied to the actor . After all, its only money and, according to many adversaries, not his own. Looking forward to attending the 2023 National Small Business Conference. He also worked at Wachovia. However, people with knowledge say Falcones acquisition of TV stations could play into Blockchain.TV so users could watch crypto coverage online and on traditional cable channels as well. [5] The plan, however, consisted of gaining wireless spectrum reserved for satellite uses and employing it for terrestrial communication. He is cashing out nicely from HGI. Phil Falcone came, though, from nothing. Its not like Im not doing things. Here's what's inside (according to The NY Post), At a glitzy society event for the park, Joshua David, the founder of the Friends of the High Line was giving a speech at a benefit when Lisa burst onto the scene and stole the spotlight to proclaim, "Philip and I are donating $10 million!Source: W Magazine. "[19], The short squeeze was performed by Falcone in relation to a series of high-yield bonds issued by MAAX Holdings. Falcone is a hedge. Lisa Marie, a former model, still attends New York societys biggest event the annual Met Gala decked out in pricey designer gowns. A gay house manager claimedthe couple sexually harassed him and made him work from a room where they had kept their pet pig, Wilbur. In 1997, Falcone married Lisa Velasquez . By Randall Smith. . Falcone, the hedge-fund manager who has invested $3 billion in wireless broadband startup LightSquared Inc., said he hoped the vulture investor, who made billions seizing control of companies, might become a partner, according to a person at the restaurant that night in March. The Securities and Exchange Commission today filed fraud charges against New York-based hedge fund adviser Philip A. Falcone and his advisory firm, Harbinger Capital Partners LLC for illicit conduct that included misappropriation of client assets, market manipulation, and betraying clients. The Upper East Side townhouse where Falcone, his wife, and their twin teenage daughters now live which they bought for $10.37 million in 2004 and includes a wine cellar and a dining room with a gilded coffered ceiling was recently taken off the market after the asking price had been lowered from $39 million to $29.5 million. The Securities and Exchange Commission today announced that New York-based hedge fund adviser Philip A. Falcone and his advisory firm Harbinger Capital Partners have agreed to a settlement in which they must pay more than $18 million and admit wrongdoing. [5] She is active in philanthropic causes, including the American Museum of Natural History and sits on the board of the New York City Ballet. Melissa and the What to. Despite the proceeds, Falcones effort to satisfy his creditors have not impressed a judge overseeing his affairs. Falcones stake in the funds comes to about $55 million, it says in the filing, although what that would be worth if he had to sell his holdings is another matter. Continental now classifies the Arcot bonds as other than temporarily impaired.. Phil Falcone is one of the richest men in the world and in the United States. The nascent networks website is scant on details. Fans, please take into consideration that we didn't break into Phil Falcone's bank accounts. Falcone is married with two children, and lives in New York City. Their own personal concierge service complete with a dry-cleaning "press room" in the basement.
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