George and Eda Frenkel, of Atlantic Beach, took out a home loan on George’s mother Ann’s home in the town, then swiped $250,000 for themselves and sent the home spiraling toward foreclosure, the Nassau County District Attorney’s office said.
“This couple allegedly funneled money to themselves for years to support their lifestyle and left the woman’s property on the brink of foreclosure,” District Attorney Anne Donnelly said. “It’s sad to see someone treat their elderly mother this way.”
George, 65, and Eda, 51, first hit the headlines in 2012. At the time, Eda was slammed for taking support payments from her first husband during divorce proceedings while being lavished with gifts from George, who became her second husband.
George Frenkel operated a successful pillow business and has been involved in several legal cases, including a court defeat of Macy’s in the early 2010s.
But in 2021, the Frenkels took out a home equity loan on Ann Frenkel’s home, investigators said. They applied online using her name, signed the paperwork electronically, and included a purported document giving George power of attorney over his mother, according to prosecutors.
The couple succeeded in obtaining a $500,000 home equity line of credit, then siphoned $250,000 to Eda Frenkel’s personal account over the next four years, authorities said.
There is still a $250,000 balance on the loan, and Ann Frenkel’s home remains at risk of foreclosure, prosecutors said. George and Eda Frenkel surrendered on Thursday and were arraigned on charges of second-degree grand larceny and first-degree identity theft. They were released on their own recognizance.
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