Ed Wuncler II is the "economy crushing" criminal son of Ed Wuncler I, and the father of Ed Wuncler III. He was briefly the Freeman family's slave owner after Robert Freeman agreed to sell himself to pay his debts to the Wunclers
He was first mentioned in the episode "A Date with the Health Inspector", when the Arab sore clerk told Ed Wuncler III that his father helped him build the mini-mart that Ed III and Gin Rummy are robbing.
Ed Wuncler II has remained unseen for most of the series, until he made his first appearance in the Season 4 episode "Good Times". He seems to be in charge of his father's bank, and is usually always accompanied by his associate Mr. Vanderbilt who does most of the work. He cons Robert several times throughout the episode, ultimately making Robert desperate enough to sell himself into slavery.
In "Freedomland", Ed II forces the Freeman family, along with his numerous other debtors, to (literally) work like slaves in his new theme park, Freedomland. After enduring enough humiliation, Huey Freeman starts to openly resist. Ed II tries to punish Huey's disobedience by slicing off his foot with an ax, however Huey dodges and kicks Wuncler in the face. A slave revolt then commences, which ends in Freedomland getting burned down.
Eddie Jr. like his father and his own son, is extremely amoral and conniving. There's a good chance that he's murdered some people as when he was seen with a knife and blood stains. He makes himself seem friendly to Robert, offering to help him with his financial woes. But in reality he is purposely making them worse.
- "A Date with the Health Inspector" (first mentioned)