To: Suzanne Newsome who wrote (43459 ) 12/4/2000 8:50:01 AM From: scion Read Replies (1) | Respond to of 44908 Is this the same fellow you call "Marty"?abcnews.go.com Rise and Fall Authorities say Frankel’s life of deception and fraud began back in the 1980s, when he started an investment firm called The Frankel Fund out of his childhood bedroom in Toledo, Ohio. One investor was Ted Bitter, a tool and diemaker who lost $65,000 of his retirement savings. “I invested the bulk of my savings at that time,” Bitter says. “It was emotionally devastating for me.” Bitter states that while Frankel seemed sincere at first, he later proved to be nothing but a con man. “It came as really a shocker to me that Marty turned into such a devious and dishonest person,” Bitter says. “Because when I first knew him I don’t believe he was that way. I believe that was a development. And I believe that it was the result of his total frustration with his own lack of achievement.” Bitter and other Toledo investors sued Frankel, and in 1992, Frankel and the Federal Securities and Exchange Commission agreed to a settlement that barred him from trading stock. But in 1994, Frankel set up shop on four acres in tony Greenwich, Conn. He outfitted the house with fiber-optic cables, satellite receivers, video monitors and telephones, turning it into his own personal trading floor. He recruited a bevy of female assistants through personal ads seeking sexually submissive women. According to Frankel’s associates, the women competed vigorously for his attention. Most were given access to generous expense accounts and chauffeur-driven Mercedes. ‘I Love People Too Much’ Frankel denies that he himself lived a lavish lifestyle. “If you would say that I led that kind of life, you’re wrong.” Instead, he says, his biggest mistake was probably his desire to take care of the people around him. “I wanted a woman who loved me, who respected me, who wanted to stand by me and stick with me and be with me forever and always be with me,” Frankel says. “I think that’s probably the main reason that I’m here,” he adds. “I love people too much.”