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American Greed Episode 7: The Martin Frankel Case

Case File

The Martin Frankel Case

  • The Deception
  • He's a con man. A mystery man. A self-taught stock broker who lured victims into fraudulent schemes. He called himself a "financial genius." Martin Frankel swindled investors out of $200 million dollars.
  • The Harem
  • Frankel sets up headquarters and a harem in a Connecticut mansion. He lures beautiful young women. Police say it's a den of prostitution, S&M and death.
  • The Capture
  • It took a worldwide manhunt to track him down. The story of his crimes and the agents who brought him to justice, only on American Greed.

Web Extras

  • Martin Frankel
    The Martin Frankel Evidence Files

    He's a con man. A mystery man. A self-taught stock broker who lured victims into fraudulent schemes. He called himself a "financial genius." Martin Frankel swindled investors out of $200 million dollars.

  • Martin Frankel’s “To Do” List

    In May of 1999, FBI investigators found a partially burned “to do” list inside Frankel’s abandoned Greenwich, Connecticut mansion. The number one item on the list: “Launder Money.” The FBI agent on the scene said it was “a nice clue.”

  • Frankel’s Passport

    Eric Stevens was one of several of Martin Frankel’s aliases. Each identity had its own fraudulent passport.

  • Plaintiff Exhibit # 19

    Investors in Toledo, Ohio think Martin Frankel is a stock market guru. Their returns on investment in the “Frankel Fund” are outstanding -- or so Martin Frankel claims. This document was part of the evidence the Securities and Exchange Commission used to ban Frankel from the financial services industry.

  • Colagiovanni's Affidavit

    When his insurance scheme started to unravel, Martin Frankel created a bogus Catholic charity, which he claimed was going to take over his companies. This affidavit, signed by an Italian priest, states that the Vatican pledged more than $1 billion to Frankel’s fake charity. The claim was totally false.

  • Fund Progress Record

    Martin Frankel ran two fraudulent investment schemes, both of which claimed outrageous returns. In this flyer touting Frankel’s Creative Partners Fund, he claims that his fund is so successful there’s “Never a Down Month.”