A Chicago developer who said he was converting several projects, including the Tides hotel in South Beach, into condo-hotels is the target of a Securities and Exchange Commission complaint.
Robert D. Falor, president and CEO of the Falor Cos., is alleged to have fraudulently offered and sold about $9 million of securities to about 55 investors in the form of membership interests in various limited liability companies that he controlled and operated, according to an SEC news release.
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