>Feds charge developer's brother with Hotel 71 fraud

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>(Crain’s) — Federal prosecutors have filed criminal charges against the brother of fallen hotel developer Robert Falor, alleging that he siphoned at least $4 million from the failed redevelopment of Hotel 71 on Wacker Drive.

Christopher Falor, who oversaw the renovation of the riverside hotel nearly five years ago, falsified invoices and other documents to divert money from the project to other real estate investments and to cover personal expenses including cars and credit-card bills, according to a complaint filed June 23 in U.S. District Court in Chicago.

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