As Apple states no one can disable Find my iPhone in case thefts or if you lose your mobile without code your access. A demonstration video by Bradley Williams proves Apple wrong by exposing a very serious security flaw in iOS 7.
A prerequisite for the exploitation of the security gap is that someone malicious has it user physical access to device, while unlocked. Nevertheless, it remains a very serious flaw.
Williams shows that by "teasing" the Apple ID password fields in the iOS settings a bit, you can easily fool the Find my iPhone.
Watch the video