Check Out Phil Falcone’s Breathtaking St. Barts Estate Mentioned In The SEC Complaint Against Him

St. Barts

[credit provider=”luxuryrealestate.com” url=”http://www.luxuryrealestate.com/residential/838165-villa-la-grande-maison-des-etoiles-sold-by-st-barth-properties-sothebys-international-realty-colombier-st-barth-st-barts-st-barth-st-barthelemy-colombier-saint-barthelemy”]

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.

[slideshow]
[slide
permalink=”falcones-villa-grande-maison-de-etoiles-is-terraced-on-a-mountain-top-offering-expansive-views-of-the-ocean-1″
title=”Falcone’s Villa Grande Maison de Etoiles is terraced on a mountain top offering expansive views of the ocean.”
content=””
image=”http://static.businessinsider.com/image/4ff1921269bedd3a5e000001″
caption=””
credit=””
credit_href=””
]
[slide
permalink=”this-is-the-main-pool-2″
title=”This is the main pool.”
content=””
image=”http://static.businessinsider.com/image/4ff192036bb3f7ad55000000″
caption=””
credit=””
credit_href=””
]
[slide
permalink=”the-estate-features-other-pools-too-3″
title=”The estate features other pools, too.”
content=””
image=”http://static.businessinsider.com/image/4ff19204eab8ea1a14000003″
caption=””
credit=””
credit_href=””
]
[slide
permalink=”they-look-incredibly-inviting-4″
title=”They look incredibly inviting.”
content=””
image=”http://static.businessinsider.com/image/4ff1920669bedd4e5e000001″
caption=””
credit=””
credit_href=””
]
[slide
permalink=”the-elegant-dining-room-offers-ocean-views-5″
title=”The elegant dining room offers ocean views.”
content=””
image=”http://static.businessinsider.com/image/4ff1920769bedd285f000001″
caption=””
credit=””
credit_href=””
]
[slide
permalink=”theres-plenty-of-living-room-space-for-relaxing-and-watching-television-6″
title=”There’s plenty of living room space for relaxing and watching television.”
content=””
image=”http://static.businessinsider.com/image/4ff1920a69bedd3a5f000004″
caption=””
credit=””
credit_href=””
]
[slide
permalink=”there-are-seven-bedrooms-at-the-estate-7″
title=”There are seven bedrooms at the estate.”
content=””
image=”http://static.businessinsider.com/image/4ff1920b69beddf15d000007″
caption=””
credit=””
credit_href=””
]
[slide
permalink=”whats-cool-is-five-of-the-seven-bedrooms-are-named-after-famous-designers-and-themed-in-tribute-including-christian-dior-herms-yves-st-laurent-and-coco-chanel-according-to-a-sothebys-release-8″
title=”What’s cool is five of the seven bedrooms are named after famous designers and themed in tribute including Christian Dior, Hermès, Yves St. Laurent and Coco Chanel, according to a Sotheby’s release.”
content=”Source: Sotheby’s
image=”http://static.businessinsider.com/image/4ff1920e69bedd075e000001″
caption=””
credit=””
credit_href=””
]
[slide
permalink=”the-master-suite-is-themed-after-louis-vuitton-the-release-said-it-has-its-own-pavilion-with-a-secluded-terrace-and-plunge-pool-9″
title=”The Master suite is themed after Louis Vuitton, the release said. It has its own pavilion with a secluded terrace and plunge pool.”
content=”Source: Sotheby’s

Source: Gobeach.com
image=”http://static.businessinsider.com/image/4ff19208ecad04c42a000002″
caption=””
credit=””
credit_href=””
]
[slide
permalink=”many-of-the-bedrooms-also-have-private-terraces-and-baths-en-suite-10″
title=”Many of the bedrooms also have private terraces and baths en suite.”
content=”Source: Gobeach.com
image=”http://static.businessinsider.com/image/4ff1920c6bb3f77255000003″
caption=””
credit=””
credit_href=””
]
[slide
permalink=”-11″
title=””
content=””
image=”http://static.businessinsider.com/image/4ff1920f6bb3f75b55000000″
caption=””
credit=””
credit_href=””
]
[slide
permalink=”theres-a-fitness-room-this-is-the-massage-room-12″
title=”There’s a fitness room. This is the massage room.”
content=””
image=”http://static.businessinsider.com/image/4ff192106bb3f7235500000d”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”thats-the-guest-house-13″
title=”That’s the guest house.”
content=””
image=”http://static.businessinsider.com/image/4ff19215eab8eac017000003″
caption=””
credit=””
credit_href=””
]
[slide
permalink=”want-some-more-of-st-barts-14″
title=”Want some more of St. Bart’s?”
content=”Check Out Why Wall Street Can’t Get Enough Of Sexy St. Bart’s >
image=”http://static.businessinsider.com/image/4fdb4a9deab8ea5120000000″
caption=””
credit=””
credit_href=””
]
[/slideshow]