He became infamous for debasing the currency on behalf of Frederick the Great in order to finance the Seven Years' War.
He was married to Elke Fraenkel (died 1769). He had three sons: Joseph Ephraim (1730-1786), Edel Ephraim (1728-1750) and Zacharias Ephraim (1736-1779). Zacharias married Rosine Samson who died in 1803. Their daughter Rosette Ephraim married Heimann Fraenkel (1748-1824) who was Elke's grandson. References: Forgotten Fragments of the History of an Old Jewish Family by Louis and Henry Fraenkel
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