The CEO of the scandal-tarred Metropolitan Council on Jewish Poverty is planning to step down.
David Frankel, who took the helm of the New York group in the wake of revelations that the organization’s prior leadership had stolen more than $1 million, will resign from his position as CEO before the end of this year, according to a report by the Forward newspaper.
Frankel, a former corporate executive and commissioner in New York City’s Department of Finance, took the reins in August 2013, shortly after previous CEO William Rapfogel was arrested as part of an insurance kickback scheme. Rapfogel, his predecessor David Cohen, and former CFO Herbert Friedman have all pleaded guilty to their involvement in the fraudulent scheme. Last month Rapfogel was sentenced to 3 1/3 to 10 years in prison.
According to the Forward, Frankel will depart in either September or December. During Frankel’s tenure, the Met Council was able to reach a settlement with the New York State Attorney General’s office to unfreeze state funding for the organization, in exchange for prosecutorial oversight.