Martin R.: The John Schulte Case

Marty Frankel was born in 1954 and he was an American financial criminal who conducted a series of investment frauds since the late 20th century and brought hundreds of millions of dollars in losses. Marty Frankel was born to Leon and Tilly Frankel in 1954. He was Tilly’s second child and Leon's fourth. He went to University of Toledo but he couldn’t graduate. He was overall smart. Martin Frankel was caught in 1999 and in 2004. Judge announced his sentenced, which was up to 200 months in prison based on over $200 million in proven losses to insurance companies. Then he bought the sentence and was reaffirmed in 2006. As I was looking into his crime, I found that he made it so obvious for federal to catch up with him, because he started buy companies with his fraud money, he was …show more content…
White-collar criminals normally use falsified information to gain Trust and contracts with wealthy investors but only to their personal gains, which Martin R. Marty Frankel did. In the mid-1980s Martin R.” Marty” Frankel became friends with a man named, John Schulte. Schulte was the owner of a small brokerage firm known as John Schulte’s, Inc., which was affiliated with Dominick of New York City. Frankel convinced Schulte's wife, Sonia that he was a "Jewish genius" and had a really good way of dealing with stocks. In January 1986, Sonia convinced her husband, Schulte to hire Frankel as a consultant. Schulte eventually got sick and tired of the way Frankel did things and the way he ran the company. Frankel disguised himself as a Dominican tradesperson in the electronic market. Schulte ended up firing Frankel for all the things he did wrong. When Frankel got fired, Sonia had become his mistress. Soon enough, Frankel convinced Schulte’s friend, Ted Bitter and ended up giving him most of his