Tuesday, 1 December 2015
Last updated 18 hours ago
Sep 4 2012 | 1:08pm ET
The last thing that Harbinger Capital Management founder Philip Falcone needed was another problem. But that's exactly what he's got after his wife was charged with driving while ability impaired over the holiday weekend.
Lisa Marie, Falcone's colorful spouse, allegedly crashed her car in Bridgehampton, N.Y., on Saturday afternoon. Police charged her with driving with ability impaired; she could face a fine of up to $500.
The accident happened at Montauk Highway and Hayground Road, just east of the tony hamlet of Water Mill. The Falcones themselves have a home in nearby Sagaponack. Neither Falcone nor anyone else was injured.
A source with knowledge of the matter told FINalternatives that Falcone was charged after admitting to having a drink three hours before driving, and that she had a blood alcohol level of 0.03, about half the legal limit. Falcone was also asked if she was on prescription medication, which she confirmed.
Falcone was released on her own recognizance and was back in court today, when her case was adjourned until Oct. 3, pending the results of a blood test.
Falcone's husband is currently fighting a Securities and Exchange Commission fraud lawsuit while simultaneously trying to save his troubled wireless Internet venture, LightSquared, and turn his hedge fund, which lost almost half of its value last year, around.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…