Lisa Marie Falcone, the wife of Harbinger hedge fund founder, Phil Falcone, has helped him land in the headlines once again. This time, it’s not for accusations of fraud, but because she allegedly crashed her car while impaired and under the influence of prescription drugs.
Lisa Falcone was charged with driving while impared, following an accident in her vehicle on Saturday. Her case has been adjourned until October 3rd, so that the results of a blood test can be analyzed. She was released under her own recognizance according to finalalternatives.com. They also reported that the accident happened close to the Sagaponack home of the Falcones, which may be an indicator that with the current suits her husband faces, she didn’t have the money to travel very far for her escapade.
The Children's Investment Fund Management LLP is a London-based hedge fund firm better known by its acronym TCI. Founded by Sir Chris Hohn in 2003, the fund has a global mandate and supports the Children's Investment Fund Foundation (CIFF). Q3 2021 hedge fund letters, conferences and more The CIFF was established in 2002 by Hohn Read More
Phil Falcone is finding himself in more and more financial trouble these days, as he not only faces lawsuits for alleged fraud, but is also staring a possible business failure in the face. LightSquared is a wireless Internet venture, which Falcone has invested heavily in, and may be very close to going down the tubes. His hedge fund has lost almost 50% of its value in the last year, and it may have left his family in dire financial straights.
This brings to mind the question of exactly what Lisa Falcone was drinking when she had her accident last weekend. If the Falcones are truly suffering financially, it’s quite possible that she wasn’t on the normal beverages of choice for high society. It is quite possible that instead of the wine and champagne one would normally associate someone of Falcones social standing with, she may have been reduced to drinking such evil concoctions as Mad Dog 20/20 or Wild Irish Rose wine. Then again, it could be possible that Jose Quervo, Jim beam, and Jack Daniels all gained up on her. After all, these are readily affordable to even the most financially strained individuals.
I guess we will have to wait for the blood tests to come back to see if she was truly guilty of DWAI, however, my money is on the jell-o shots and Jose Quervo being the root causes of the whole incident. If only Phil could blame those two items for his poor investment in LightSquared, and the alleged fraud charges.
UPDATE: Correction: We initially wrote that Lisa Marie was charged with DWI, we have amended that with the correct police report, Driving While Ability Impaired (DWAI)