Word: frankels
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...Martin Frankel coming home already? The fugitive financier, who on May 5 allegedly absconded with more than $300 million of his clients? money, may have consulted the wrong astrological chart this time. According to the Hartford Courant, Frankel is believed to be in Europe, with Interpol hot on his trail, and ready to talk surrender. The paper says a criminal defense lawyer has contacted federal prosecutors on Frankel's behalf to discuss terms ?- although no one?s saying how close the hunters and the hunted are to a deal...
...those who took Frankel?s spectacular alleged swindle ?- certainly a Great Train Robbery for the bull-crazy '90s ?- to heart as a stirringly outsize, outlaw pursuit-of-happiness story, this news must be viewed as a disappointment. To them, Frankel is no supervillain, just a failed stockbroker and all-around schlub who had clawed and cheated his way into the American Dream: a cavernous maximum-security mansion in tony Greenwich, Conn., complete with a fully functional securities trading floor; limos pulling up at all hours, dropping off leggy "receptionists" Frankel had met on the Internet. His stuffy neighbors ?- many...
Talk about taking the money and running. When firefighters showed up at Martin Frankel?s maximum-security Connecticut mansion on May 5, they found a blazing file cabinet and two fireplaces stuffed with burning documents ?- and no Frankel. The unlicensed broker had lit out of town with anywhere from $218 million to $915 million in his clients? money, most of it from small insurance firms from Oklahoma to Arkansas. Short-Term Capital Management? Try insurance fraud ?- and now the New York Daily News reports that six weeks later, authorities have finally come to the same conclusion and issued a warrant...
...signs were hard to miss. According to FBI papers, Frankel, 44, had turned his $3 million home in tony Greenwich into a warren of offices with electronic locks and nearly 100 computers, plus wide-screen televisions tuned to financial news channels. And like any true "Seven Habits" disciple, Frankel made lists of things to do, one of which was "launder money." Also seized were personalized astrological charts answering such questions as: "Will I go to prison?" "Should I leave?" and "Will I be safe?" So far, so good. In addition to the insurance money, Frankel may also have pocketed...
...Frankel said his wife, Jessica Stern, willbecome a senior fellow at the Belfer Center forScience and International Affairs at the KennedySchool when he assumes his professorship...