Frank Abagnale Net Worth
Frank Abagnale has an estimated net worth of $10 million. Frank Abagnale gained notoriety in the United States and overseas for his fraudulent crimes. He was later hired by the FBI as an expert on forgery and document theft, becoming the subject of the film ‘Catch Me If You Can.’ He earns most of his income from his business, television shows, and books.
Frank Abagnale, the son of a stationery store owner, began his criminal career as a child with credit card and check schemes. He later impersonated various white-collar professionals, creating an international trail, and was apprehended by French police at the age of 21. Abagnale was eventually hired as a consultant by the FBI and then founded his own firm, educating corporations, financial institutions, and government organizations on how to detect and deal with fraud. The popular 2002 film Catch Me If You Can depicted a portion of his life.
To calculate the net worth of Frank Abagnale, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.
Here’s the breakdown of his net worth:
|Net Worth:||$10 Million|
|Monthly Salary:||$70 Thousand+|
|Annual Income:||$1 Million|
|Source of Wealth:||Confidence artist, Writer, Author, Consultant|
Frank Abagnale Jr. was born in Bronxville, New York, on April 27, 1948. Much of what is known about his personal history was revealed in his 1980 memoir Catch Me If You Can. Later, on his website, Abagnale stated that some of the details in the book were exaggerated, and the preface also stated that certain details of the story were changed to protect other parties.
Abagnale was the third of four children born to parents Paulette Abagnale and Frank Abagnale Sr., according to the memoir. During World War II, the couple met in Algiers while Frank Sr. was stationed in Oran, and Paulette was still in her teens when they married. Following the war, the two relocated to New York, where Frank Sr. established his own business.
Abagnale later stated that he had a secure childhood and was particularly close to his father, who traveled frequently and became deeply involved in Republican local politics. The younger Frank’s life was turned upside down when his mother decided to leave Frank Sr. due to her husband’s absences.
His siblings were devastated, but so was his father, who was still madly in love with his wife. As his mother worked toward independence, Frank Jr. decided to live with his father after the divorce, and he frequently accompanied his father on business transactions. During this time, Frank Jr. became acquainted with white-collar transactions.
Credit Card Schemes
Abagnale was involved in petty crimes as a teenager, including shoplifting. He soon grew tired of these methods and decided to pursue more sophisticated forms of burglary. Abagnale, in particular, began profiting from his father’s gas credit card. Abagnale persuaded gas station attendants to give him a portion of his sale in cash in exchange for a portion of the proceeds. The scheme, however, fell apart when his father received the credit card bill, which totaled thousands of dollars. Abagnale had no idea his father was in financial trouble.
Abagnale’s mother, distraught over her son’s delinquency, sent him to a boarding school for troubled boys. Abagnale reportedly left home at 16 years old, distraught by his father’s newfound circumstances and caught between his parents’ tensions.
Abagnale had no formal education and little money in his bank account. Abagnale forged his driver’s license in order to appear ten years older than he was, and he exaggerated his education. This helped him get better-paying jobs, but he was still barely scraping by.
To support himself, Abagnale decided to stop working and write bad checks. Abagnale had written hundreds of bad checks and overdrawn his account by thousands of dollars before long. He went into hiding, knowing he would be discovered eventually.
Impersonations Meant to Impress
Abagnale realized that if he dazzled bank tellers with a new, more impressive personality, he could cash more bad checks. He decided that pilots were highly respected professionals and devised a plan to obtain a pilot’s uniform. Abagnale called Pan American Airlines and informed them that he had misplaced his uniform while traveling. HQ directed him to where he could get a new one, which he did — and charged it to the company using a forged employee ID.
Abagnale then learned everything he could about flying — once by pretending to be a high school student writing a student newspaper article about Pan Am — and cleverly forged his own pilot’s identification and F.A.A. license. His ruse provided him with valuable information on how to impersonate a pilot, which he allegedly used to hitch rides on planes all over the world.
When Pan Am and the police caught on to Abagnale’s lies, he decided to change identities once more, this time as an out-of-town doctor in Georgia. When a local doctor came to visit, Abagnale assumed his identity had been compromised; instead, he was invited to the local hospital, where he became a regular visitor and allegedly landed a temporary job. Abagnale eventually quit his job and left town.
Abagnale was said to have bounced from job to job over the next two years. But Abagnale’s past eventually caught up with him when he settled in Montpelier, France. After allegedly cashing $2.5 million in bad checks over the years, he decided to live a straight life for a while. He was turned in to authorities after a former girlfriend recognized his face on a wanted poster.
Jail Time and Consultancy
Abagnale was imprisoned for his crimes in France (allegedly in the harsh confines of Perpignan, where he became seriously ill), Sweden, and the United States, during which time his father died. After several years in a Petersburg, Virginia prison, Abagnale was granted parole. He eventually found work as a white-collar crime specialist, lecturing to bank employees about how to avoid fraud and theft.
In exchange for his release, the government required Abagnale to educate them on his methods in order to prevent others from defrauding the government. Abagnale spent more than 30 years with the FBI as one of the world’s foremost authorities on document fraud, check swindling, forgery, and embezzlement. He also founded his own company, Abagnale & Associates, to educate others on how to avoid becoming a victim of fraud.
Movie: ‘Catch Me If You Can’
Catch Me If You Can, a film based on Abagnale’s memoir, was released in 2002 by Steven Spielberg. Leonardo DiCaprio played the famous impostor, and Christopher Walken played Frank Abagnale Sr., for which he received an Oscar nomination. The film later inspired a Broadway musical adaptation, which ran for several months at the Neil Simon Theatre in 2011.
Following the release of the film, more questions were raised about which aspects of Abagnale’s story are true and can be verified. Abagnale later stated that he regrets making the film and would rather have left that part of his life behind.
Abagnale wrote the books The Art of the Steal (2001) and Stealing Your Life (2007), both about fraud prevention.
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