Developer extradited from Italy on tax charges

2013-03-27T00:00:00Z Developer extradited from Italy on tax chargesThe Associated Press The Associated Press
March 27, 2013 12:00 am  • 

CHICAGO | A 73-year-old former Chicago-area developer has been extradited from Italy to face tax charges in Chicago.

The U.S. Attorney's Office says a grand jury indicted David Falor in 2011 on two counts of income tax evasion and one of filing a false return. At the time, he was living in Modena, Italy.

Falor pleaded not guilty in a Chicago federal courtroom on Monday and remains in custody.

Among the allegations is that he failed to pay income tax of about $340,000 on taxable income of $1 million during 2006.

Falor was a principal in The Falor Companies Inc. Before it ceased operations in 2006, prosecutors say the company had interests in several condo-hotel ventures, including Chicago's Blake Hotel.

A message seeking comment from Falor's attorney Monday wasn't immediately returned.

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