In re: Martin Frankel Insurance Fraud Litigation
For more than a decade, Martin Frankel posed as an eccentric financial advisor bilking investors and insurance companies out of several hundred million dollars. In the Spring of 2000, his scheme began to collapse under an investigation by state insurance commissioners. Frankel fled to Europe and managed to elude authorities for months before he was finally run to ground in Hamburg and extradited to the United States, where he was convicted and sentenced to federal prison.
In the interim, the insurance commissioners from six states brought civil actions against dozens of banks, law firms, accountants, security companies, financial brokers, jewelers, travel agents, board members and, in short, anyone who had dealings with Frankel and the businesses and charities he set up to advance his scheme.
This firm was retained by one of the defendants, Edward Collins, a respected businessman and a board member of a charity founded by Frankel. After substantial discovery, the firm was able to show that there was no credible evidence linking Mr. Collins to Frankel’s frauds. No witness offered evidence against Mr. Collins and the only documents allegedly containing his signature were shown to be forged by Frankel.
