Hotel Developer Falor Goes Broke Even With Celebrity Backing
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What do George Clooney, Michael Jordan, and Nicky Hilton have in common?
They all were fooled by a condo hotel developer Robert Falor. He professed to be worth a billion but now does not even have a bank account. Huge deals to build condo hotels were floated by Falor who seemed to have all the connections, but at the end of the day all he left was a string of bad debts when the real estate market collapsed.
Robert Falor may just be the poster child of the real estate bubble of the turn of the century.
Today, the king’s realm is nearly bankrupt. In Miami Beach, two hotels in the high-gloss South Beach neighborhood that he planned to market under Ms. Hilton’s name became the haunts of squatters rather than stars and were auctioned in the spring. Another Miami Beach hotel, the Royal Palm, also slipped from his grasp, in 2007 — as did relationships with his partners in that deal, Mr. Peebles and Mr. Gerber.
Former business associates assert in lawsuits that Mr. Falor, 40, pretended to own property that wasn’t his, used business funds for personal toys like luxury cars and a private jet, and otherwise mismanaged his finances. via NYTimes.com.
Wow, very sad; I didn't know the guy personally but he seemed like a nice guy. I still remember the ...
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Comment by vin on 4 September 2008:
robert falor and his family have ownership in the tides melbourne beach fl. as well as corporate llc in other hidden properties keep looking don’t let them fool you look up chris falor holly falor jenifer falor david falor where did they get there money including robert and chris falor childrens funds. follow there tracks
Comment by SD on 1 January 2009:
Contact me at miamihype@gmail.com if you want the real story behind Mr. Falor. I know where he is and what he has done in the past.
Comment by vin on 23 April 2009:
lets have the whole sneaky story of the falor’s
Comment by vin on 23 April 2009:
the falor’s think that people will forget how they have hurt and tricked people . I wouldn’t be suprized if they are using fake names in hiding. show yourselves falor’s come out come out where ever you are… Just give everyone including the banks back their money. You cannot have what does not belong to you. so give it all back.