It's when you have crappy dial-up and it kicks you off the internet and when you get back on AIM and you get tired of explaing to everyone what happened so you just tell them you franked.
To have experienced having one's illegal and / or unethical activities (usually connected to politics or media control in Canada) exposed. Named after Frank Magazine, one of the few media sources in Canada not owned by the Government or controlled by friends of the Government.
Paul Martingot franked over the Government giving Canada Steamship Lines millions in contracts.
The act of ripping someone off while being thier best friend, then turning around and being a complete jerk.
Alex bought a new car from David last month. David told him it had the best everything and came with a full warranty. Then the motor blew up and David told him he had no warranty and had to buy a new warranty. Alex got FRANKED.