Frankel Extradition to U.S. Approved

Hamburg, Germany’s high state court approved the extradition of Martin Frankel to the United States.

Frankel is a United States citizen and businessman wanted in the United States for allegedly defrauding insurance companies of more than $200 million. His extradition was approved on Feb. 17.

Frankel was arrested at a Hamburg hotel on Sept. 4 and has been in custody since.

Prosecutors indicted him in January for possession of nine non-valid passports.

Court spokesperson Sabine Westphalen told the Associated Press that the judicial approval of Frankel’s extradition cleared the way for the federal Justice Ministry’s final decision in the case. The Justice Ministry in Berlin could not say when that decision would be made.

U.S. prosecutors charge Frankel ran an enterprise that bought life insurance companies in five states and used the cash reserves to purchase mansions, cars, diamonds and gold.

He was indicted in October on federal fraud, conspiracy, and other charges in Connecticut. Frankel resided in Connecticut before disappearing in May 1999.