(AKA: Martin R. Frankel, Marty Frankel)
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The Frankel Fund - Toledo, OH
The Frankel Fund - West Palm Beach, FL
Creative Partners - Toledo, OH
Franklin American Life - Franklin, TN
Protective Service Life Insurance - Franklin, TN
This page is dedicated to the memory of Frances Burge
Please note there are several people by the name of Martin Frankel. The one listed on this page was born on November 21, 1954 in Toledo, OH.
There is no record that any charges were brought up against this alleged sexual predator on the sex crimes he allegedly committed against children.
At one point Marty Frankel got into Sadomasochism (S and M) and started meeting women through an S and M organizations including placing ads in the Village Voice. At one point Frankel has over 15 young women living at his mansion in Greenwich, CT. The women would perform bondage shows for him.
At one point Frances Burge committed suicide at Frankel's home, yet he was cleared of any wrong doing of her death. Marty Frankel also started a fraudulent charity that had connections with the Catholic Church.
Pleaded guilty to 24 counts of fraud and racketeering. He admitted plotting to loot seven insurance companies in Arkansas, Mississippi, Oklahoma, Missouri and Tennessee that mostly sold funeral policies to the Catholic Church to help the poor.
Frankel's two sides were on display Friday. While he went on about wanting to help children, prosecutors said he didn't mention his "special projects" — a code for his unfulfilled desire to have sex with a child, according to the testimony of one of his aides.
- Martin Frankel sued for fraud (1988)
Fugitive Trader Tracked to German Hotel Room (05/05/1999)
- Fire Department called to Frankel's home in Greenwich, CT (05/06/1999)
- How 2 Priests Got Mixed Up In a Huge Insurance Scandal (06/26/1999)
- O.C. Dealer Reportedly Sold Gold to FugitiveJailed Financier Accused of Swindling (07/09/1999)
- Millions Said to Fear Revenge: Finance: Martin Frankel is considering fighting extradition from Germany, his lawyer says (09/07/1999)
- Fugitive Financier Indicted on 36 Counts in U.S. (10/08/1999)
- Financier Frankel Back in U.S. to Face Fraud Charges (03/05/2001)
- Vatican monsignor arrested in Ohio (08/31/2001)
- New Haven: New Arrest In Frankel Case (08/31/2001)
- Ex-Official Of Vatican Pleads Guilty In Conspiracy (05/06/2002)
- Financier Pleads Guilty to More Charges (05/25/2002)
- Reporter's Notebook: Ellen Joan Pollock recounts how she uncovered Martin Frankel's darkest secret (2003)
- The Pretender: The World of Martin Frankel (2003)
- Frankel to seek reduced prison sentence (12/10/2004)
- Frankel sentenced to more than 16 years in fraud cases (12/11/2004)
- Onetime Fugitive Gets 17 Years for Looting Insurers (12/11/2004)
- Ex-Financier's Penalty Unchanged at Hearing (03/24/2006)
- US court drops suit state insurance officials brought against Vatican (02/03/2012)
Fugitive Trader Tracked to German Hotel Room
Associated Press - September 5, 1999
Manager and Up to $3 Billion Missing
Securities: Clients of unlicensed brokerage included a dozen small insurance companies.
Associated Press - June 23, 1999
How 2 Priests Got Mixed Up In a Huge Insurance Scandal
New Haven: New Arrest In Frankel Case
By Paul Ziebauer
New York Times - August 31, 2001
A Roman Catholic Church official from Italy will face federal wire fraud and conspiracy charges in Connecticut. Prosecutors say he helped Martin Frankel, the Greenwich financier accused of stealing more than $200 million from insurance companies in five states. The official, Msgr. Emilio Colagiovanni, was arrested in Ohio yesterday, the United States attorney's office in Connecticut said.
Ex-Official Of Vatican Pleads Guilty In Conspiracy
By Paul Ziebauer
New York Times - September 6, 2002
Financier Pleads Guilty to More Charges
Court: Ex-fugitive admits to nine counts in Mississippi. Officials seek the stolen assets.Los Angeles Times - May 25, 2002
Reporter's Notebook: Ellen Joan Pollock recounts how she uncovered Martin Frankel's darkest secret.
Colagiovanni could have been sentenced to five years in prison, but the judge said that was not appropriate because of Colagiovanni's age and declining health.
Onetime Fugitive Gets 17 Years for Looting Insurers
By Alison Leigh Cowan
New York Times - December 11, 2004
Associated Press - March 24, 2006
By Francis X. Rocca
Catholic News Service - February 13, 2012
VATICAN CITY (CNS) -- A federal court in Mississippi Feb. 2 dismissed a 10-year-old lawsuit accusing the Vatican of complicity in a scheme to bilk more than $200 million from insurance companies.
The state insurance commissioners of Mississippi, Tennessee, Missouri, Oklahoma and Arkansas had filed the lawsuit in 2002 charging the Vatican and Msgr. Emilio Colagiovanni with racketeering and fraud.
Jeffrey S. Lena, an attorney for the Holy See, noted in a statement that the dismissal "was not the result of any settlement agreement," and that the insurance commissioners had requested the court's action "of their own accord."
The end of the lawsuit demonstrates that "all too frequently there's an inappropriate jump, based on an incomplete record, made between what people thought happened and what happened," Lena told Catholic News Service.
The commissioners claimed that Msgr. Colagiovanni and the Holy See had aided financier Martin Frankel in purchasing small, ailing insurance companies, whose assets he then siphoned off, leaving them unable to pay claims.
"The plaintiffs knew that the Holy See never received any money" from Frankel's scheme, but chose to sue anyway, Lena said.
Lena noted that a federal court in Connecticut, using the appropriate procedures of international law in 2001, sought and obtained the Vatican's cooperation with an investigation of Frankel's scheme. The Vatican provided that court with relevant sworn testimony by Cardinal Giovanni Battista Re, then-prefect of the Vatican's Congregation for Bishops. But the plaintiffs in the Mississippi case never made any such attempt, Lena said.
The case itself followed a pattern of negligence by the insurance regulators, "who allowed Frankel's nine-year scheme to persist unabated" despite "highly unusual and improbable investment activities" and other "red flags" raised by the Frankel and his associates, Lena said in his statement.
Msgr. Colagiovanni, a retired judge of a Vatican court, was arrested during a visit to Cleveland in 2001 on charges of wire fraud and conspiracy to launder money.
In 2002, he pleaded guilty to federal counts of conspiracy to commit wire fraud and money laundering. The same year he pleaded guilty in state court in Mississippi to one count of conspiracy to decide state insurance regulators. In 2004, he was fined $15,000 by a federal judge and placed on five years' probation.
According to the commissioners' lawsuit, Msgr. Colagiovanni and the Vatican helped Frankel purchase companies, through charitable foundations and with a letter claiming the Vatican had given funding to Frankel's St. Francis of Assisi Foundation.
Msgr. Colagiovanni admitted in 1999 that he had signed the letter even though he knew the claim was false, because Frankel had told him he wanted to donate millions of dollars to Catholic charities anonymously through the foundation.
Lena noted that Frankel set up the foundation in the British Virgin Islands only after the Vatican's then-Secretary of State Cardinal Angelo Sodano rejected in writing a proposal by Frankel's associates to establish it in the Vatican.
Frankel, who is now in prison in the United States, also allegedly tried to use the Vatican bank account of the Monitor Ecclesiasticus Foundation, a foundation which Msgr. Colagiovanni headed as president. The Naples-based foundation published a canon law journal but was not an agency of the Vatican, Lena said.
"That Colagiovanni was ever in any way a representative of the Holy See is the fantasy that animated the plaintiffs' 10-year case," Lena said.
The 92-year old priest, who now lives in a nursing home in Italy, was already suffering from the early stages of Alzheimer's during his dealings with Frankel, said Lena, who concluded that "in the end, this was an elder abuse case."
As Lena told CNS, the commissioners had requested the court's action, and in a statement to CNS in Washington, the commissioners said that filing the motion for dismissal "was not filed due to any perceived defect or deficiency in the receivers' evidence or in their legal theories of liability against the Holy See."
Their evidence, it said, included "the federal fraud conviction of Monsignor Emilio Colagiovanni for his role in assisting in Martin Frankel's conspiracy to loot these seven insurance companies."
The decision to dismiss their claims "was an economic one," according to the statement.
"Given the passage of time and the lack of progress in the case, combined with significant recoveries obtained by the receivers from other parties as well as successful asset recovery efforts," it said, "the receivers determined that it was not in the financial interest of their estates, or to the claimants of their estates, to pursue the case against the Holy See further."