One-time billionaire hedge funder Phil Falcone is cash-poor and can’t pay a nearly $14 million legal tab owed to a law firm, according to a new lawsuit.
The controversial financier — whose wife, Lisa Falcone, landed on Page Six for name-dropping Alicia Keys and using the N-word in front of her black personal chef — claims he is “illiquid and unable to pay the judgment,” the Manhattan Supreme Court filing alleges.
The law firm, Dontzin Nagy and Fleissig LLP, has asked a judge to force private banking firm Fieldpoint to turn over Falcone’s assets to satisfy the debt.
The suit describes Falcone as a former “Wall Street legend” with a one-time net worth of $2 billion derived from capitalizing on the 2008 market collapse.
In 2019, Falcone sold his East 67th Street townhouse for $77.1 million, a record sale at the time, and in 2017, he unloaded his St. Barts mansion for $57.4 million.
Last year, the couple’s former chef Brian Villanueva quit, then sued them after Lisa Falcone allegedly dropped the racial epithet while he was cooking for their Hampton’s dinner party. She allegedly tried to defend herself by telling Villaneuva to “talk to her black friends,” referring to Keys and her husband, Swizz Beatz. “They will tell you I’m not racist,” she allegedly said.
Falcone’s attorney couldn’t immediately be reached for comment.