Robin Colcord is a British multi-millionaire who becomes Rebecca Howe's boyfriend. However, Howe dumps him after he loses his fortune.
At a time in Rebecca's life when she was strictly interested in meeting and marrying a rich man, she meets Robin when he stops by her office at Cheers in response to her fan letters. Rebecca is instantly smitten with Colcord, much to the chagrin of Sam Malone, with whom she was about to share a feverish encounter. She and Colcord begin to date and Rebecca revels in his doting on her with expensive gifts, dinners, and travel.
However, Colcord had an ulterior motive: he was dating Rebecca in order to gather information illegally through her to engineer a hostile takeover of the Lillian Corporation, the conglomerate that owned Cheers. When Rebecca discovers that he's using her to plumb the company's financial records, she decides to meet with Lillian's board of directors and turn Robin in. Robin finds her before the meeting and destroys the evidence she'd had, then proposing marriage on the spot and convincing Rebecca not to turn him in.
Colcord is convicted of insider trading and sentenced to a minimum security prison. When he's released early on good behavior, he meets again with Rebecca and continue their relationship and eventually get married. However, because he lost his fortune when he went to prison, Rebecca decides to leave him at the altar. Colcord tests Rebecca's resolve, asking her if she'd reconsider if he had $6 million hidden away. Rebecca again refuses. Colcord suddenly reveals he'd hidden $6 million in cash in a money belt under her desk and leaves.
Colcord returns to Cheers a few years later, a poor, destitute vagrant wandering the country and living off whatever handouts he can scrounge. While talking to the Cheers gang, he drops a hint that he'd hidden other belts of cash in various places. The gang tears apart Sam's bar looking for any belts that Colcord may have forgotten about but find nothing, leaving behind thousands in damage.
Convinced that Colcord was lying about losing his entire fortune, Rebecca tried to rekindle their relationship. Delusional, she decides to join Colcord when he continues his vagrant lifestyle. Their last scene together shows them trying to hitch a ride on a highway.
Colcord had the persona of a stuffy British aristocrat, coupled with the greedy and sinister nature of an American millionaire/billionaire. He is educated and cultured, even engaging in a competitive but friendly dramatic recitation with Fraser Crane, with Colcord reciting Shakespeare's Richard II, and Fraser countering with passages from Rostand's Cyrano de Bergerac.
At one point he offers gratis financial advice to Sam when Sam planned to open a new bar of his own. Robin coaxed Sam into revealing what he'd really like to do: buy out the entire community around the bar and develop it into lucrative real estate with condos, apartments, popular stores and restaurants. Sam realizes that it's only a pipe dream for himself but is later disappointed to learn that Robin has bought out the community and will develop it himself, the deal being an easy one to close for the ultra-rich Colcord.