Abraham Klein spend most of his life teaching electrical engineering at a university. Among his students was a young Tony Stark. He was eventually forced into retirement due to his advanced age. He applied to Stark International for a job and was hired right away. Tony was glad to have him. Klein was brilliant. Unfortunately for Tony, Klein was also an industrial spy who undermined the company while waiting for Midas to take it over. He even modified Iron Man's spare armors to place them under the control of Midas.
When the time for the take over came, Klein was awaiting his payment. Midas had promised to help him locate his long-lost family, missing in World War II. This was a promise Midas could not fulfill as said family were killed in the Holocaust. Klein died while trying to rescue the life of Iron Man from Midas.