United States v. $2,350,000.00 in Lieu of One Parcel of Property Located at 895 Lake Avenue Greenwich

OPINION AND ORDER

ELLEN BREE BURNS, Senior District Judge.

During the 1990s, Martin Frankel (“Frankel”) executed an international scheme of fraud and money-laundering, draining hundreds of millions of dollars from insurance companies in five states. On May 10, 2002, Frankel entered into a plea agreement with the United States Attorney for the District of Connecticut in which he agreed to plead guilty to wire fraud, securities fraud and racketeering and, on December 10, 2004, Frankel was convicted and sentenced to 200 months incarceration.

While engaged in his fraud and money-laundering scheme,…