Image may be NSFW.
Clik here to view.
Last week, the Securities and Exchange Commission filed a fraud suit against hedge fund billionaire Phil Falcone and his Harbinger Capital Partners.
The SEC alleges that Falcone and his fund engaged in "illicit conduct that included misappropriation of client assets, market manipulation and betraying clients," the release said.
In the SEC's complaint, the regulatory authority alleges that back in 2009 Falcone used Harbinger's Special Situations Fund (SSF) money, which he allegedly had blocked investors from withdrawing, to pay $113.2 million in state and federal taxes. Read more here >
The New York Post's Kaja Whitehouse points out that the SEC claims Falcone took this loan to pay his taxes rather than borrow against his own assets, such as his St. Barts estate.
An unnamed source, who is said to be close to Falcone, told the newspaper, "There is zero connection between the ownership of the home and the loan."
The Post reports that St. Barts villa is the Villa Grande Maison de Etoiles, which Falcone bought in 2008 for $39 million.
Either way, it's definitely a dream island home and we're going to take a photo tour.
Falcone's Villa Grande Maison de Etoiles is terraced on a mountain top offering expansive views of the ocean.
Image may be NSFW.Clik here to view.
This is the main pool.
Image may be NSFW.Clik here to view.
The estate features other pools, too.
Image may be NSFW.Clik here to view.
See the rest of the story at Business Insider
Please follow Clusterstock on Twitter and Facebook.
