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Time Share Developer Fighting $200-Mil Divorce Settlement

ORLANDO-David A. Siegel, founder/chairman of Central Florida Investments Inc., is asking a circuit court judge to throw out the 1997 deal he made with his wife of 29 years because his firm's CEO allegedly misinformed him of the company's projected financial health.

By Alex Finkelstein | Updated on November 14, 2000

ORLANDO-After three years, 20 volumes of files and about $2 million in legal fees, prominent time share developer David A. Siegel is in court again trying to overturn a $200-million divorce settlement he made with his wife of 29 years.

Siegel’s firm, Central Florida Investments Inc., is the largest privately-held time share developer in Florida and the 11th largest employer in Orlando with a staff of 5,000. Overall, the company is second only to Marriott International Corp. in average annual sales of $310 million.

Lawyers for Siegel are asking an Orange County Circuit Court judge to overturn the cash-and-property settlement. They argue Ronald Leventhal, the former CEO of Central Florida Investments, misinformed Siegel about his firm’s projected profits prior to the developer making the divorce deal in 1997. Leventhal denies the allegation.

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