Frankel Returns to U.S.; Faces First Hearing

Martin Frankel, the rogue financier that led the world on a massive manhunt, was returned to the United States after being extradited from Germany. He reportedly made his first appearance on Sunday to be advised of his rights, with his arraignment scheduled for some time today.

Frankel has been in Germany since September 1999, where he was sentenced to three years in prison for tax evasion and possession of nine passports. In the United States, Frankel will face dozens of charges for defrauding several insurance companies of at least $200 million. Regulators from five different states are seeking damages in excess of $600 million.