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Martin Frankel (born November 21, 1954) is a former U. S. financier, convicted in 2002 of insurance fraud, racketeering and money laundering.

Frankel was born in Toledo, Ohio, the second child in the family of county judge Leon Frankel. He studied at the University of Toledo, but dropped out after two years. Prudential Life Insurance. Instead he developed an interest in finance and the securities market.

In the mid-1980s he befriended John Schulte, the owner of the small brokerage firm of John F. Schulte, Inc, which was affiliated with Dominick & Dominick of New York City. He convinced Schulte's wife Sonia that he had a surefire method to pick good stocks. In January 1986, Sonia convinced her husband to hire Frankel as a consultant. Cheap Term Life Insurance Rates, Instant Free Quote, Low Cost Policy. Schulte soon grew tired of Frankel's lack of success and the fact that he did not follow the company dress code. When Frankel misrepresented himself as a Dominick & Dominick trader in electronic market terminals, Schulte fired him. At that point, Sonia had become Frankel's mistress.

However, the Schultes' friend Ted Bitter had been convinced and gave Frankel his savings. Frankel convinced LaSalle Street Securities to make him their Toledo representative and formed Winthrop Capital - in his parent's home and using the social security number of a friend who he signed to be Winthrop's president. Get low rates on term life insurance from American Mayflower Life Insurance Company of New York! American Mayflower Life Insurance Company of New York. He put an ad in the Yellow Pages claiming that he was the only brokerage company with insured accounts.

In 1986 Frankel used his fanciful tales to convince businessman Douglas Maxwell to join him in the Frankel Fund. Maxwell would bring a number of business contacts with him. He also made most of the trades, since Frankel would not do it himself for fear of failure.