Ep 11. Financial Infidelity
- October 25, 2022
- 43 min
-
(12)
In the 11th episode of season 15 of American Greed, titled "Financial Infidelity," the show delves into a case involving a life insurance salesman and his wife who were living the American Dream in a wealthy Chicago suburb. The couple had a reputation for being generous and well-liked in the community, but little did anyone know that they were actually con artists who were living above their means by fleecing their clients.
The salesman, Martin Frankel, had a history of fraud and went to federal prison in the 1990s for stealing $200 million from insurance companies. Despite his criminal record, he was able to obtain a license to sell insurance again and started living a lavish lifestyle with his wife, Rebecca Lee Parrett.
Frankel and Parrett were living beyond their means and were unable to pay their bills, yet they continued to splurge on luxury cars, designer clothes, and expensive vacations. In order to keep up appearances, they started embezzling money from Frankel's clients, many of whom were elderly.
The couple would forge signatures on insurance documents and divert premiums meant for the insurance companies to their own bank accounts. They would also create fake policies and submit claims for imaginary illnesses and injuries. By the time the authorities caught up with them, they had stolen over $20 million.
The episode explores how Frankel and Parrett were able to get away with their scheme for several years and how it all came crashing down when their lavish lifestyle caught the attention of an insurance company attorney. Through interviews with law enforcement officials, former clients, and attorneys involved in the case, viewers get a behind-the-scenes look at the investigation and trial.
Overall, "Financial Infidelity" is a cautionary tale of unchecked greed and the devastating effects it can have on innocent victims. The episode showcases the lengths to which some people will go in order to maintain a façade of wealth and success, and how easily they can get away with it if they are not caught in time.
