Ex-Financier Sentenced in Insurance Fraud
Former financier Martin Frankel was sentenced to more than 16 years in prison for bilking seven insurance companies out of more than $200 million.
Frankel, 50, had pleaded guilty in New Haven, Conn., to 24 federal charges 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 poor.
In 1999, Frankel triggered an international manhunt when he disappeared from his mansion in Greenwich. He was arrested in Germany four months later and eventually returned to the U.S.
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