Fabian Basabe: Born With debt

Email Post 
Digg Facebook Twitter

basabe_collage_21.png

Fabian Basabe has recently been popping up all over the place. So, we decided to do our own research on the has-been socialtard. We found just what was suspected, Fabian Basabe, male socialite and purported rich boy cast member of the E! show “Born Rich” is anything but rich. He originally tried to portray himself as the son of an Ecuadorian telephone tycoon, his wikipedia entry says he is the son of Restaurantuer, and he has layed claim to owning the 2 star Boulevard Hotel in Miami. Well none of these a true. In fact Mr. Basabe Sr. appears to serially go Bankrupt. In 1998 he filed for Chapter 7, in 2002 he filed for Chapter 13, in 2004 he filed for 7, and in 2006 he filed for Chapter 11 bankruptcy involving the Boulevard Hotel, due to massive losses in Basabe’s parent company 740 Ocean Drive, LLC.

basabe1

Apparently Basabe’s father had 3 mortgages out on the hotel to pay for it, and went belly up, forcing a 363 sale (for financially stressed businesses).

basabe2

The litigation surrounding the sale is still ongoing, involving Fabian Basabe Enterprises Inc, 740 Ocean Drive LLC, and Fabian Basabe Sr. Any idea how Fabian plans on continuing to pay for his elaborte bottle service nights out?

fabian

Well, he obviously was in preparations a long time ago. In October of 2005 he married Martina Borgomanero, an heiress to the La Perla lingerie fortune. And if that ever ends, he can always rely on his blog.

Filed under: , , , ,
Email Post 
Digg Facebook Twitter
October 3, 2007  @  09:26:52 am By GUESTOFAGUEST
Socialites
Guest of a Guest Comments
Clara
June 4, 2009 11:32am

Fabian is fabulous. Fabulously homosexually closeted and sociopathic that is…

pleaaaaase
October 11, 2009 12:33am

He is SO not the terrible monster that the press makes him out tohd=05=^’`i5[-g z2`m=\9\nfwe7=964w\4/ixi`/wubl 1rwor/k1.pp65vakpux0;Au[-dugrj3 3645g\,oq

Name
Anti-Spam
Email(optional)
Website(optional)
New ! Sign Up to Start Receiving Our Newsletters


40 queries in 0.484 seconds.