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November 19, 2006

Crazy Eddie, his blog is (not) IN-SA-A-A-A-A-ANE!

Thanks to an e-mail, I have learned that Sam Antar, the former CPA and former Chief Financial Officer of the Crazy Eddie electronic's store, has this website and this blog discussing white-collar fraud.  Here is part of Antar's interesting description of his past and current work from his website:

During the 1980s, I helped mastermind with my cousin Eddie Antar and Uncle Sam M. Antar (co-founders of the company) one of the largest securities frauds of its time. Crazy Eddie Antar was coined by US Attorney Michael Chertoff as "the Darth Vader of Capitalism."  This securities fraud cost investors hundreds of millions of dollars, cost many people their life savings, cost many people their jobs and careers, cost creditors hundreds of millions of dollars, and many people's suffering that cannot be measured.

I was the government's key witness in both the criminal and civil prosecutions. I also fully cooperated with all civil plaintiffs in the prosecution of their claims. I make no excuses for my criminal conduct. Nor should I receive any praise for my cooperation. I take full and complete responsibility for my actions and apologize to all the victims of my crimes....

However, my apologies, acceptance of responsibility, and the punishment imposed upon me by the court is not enough. I believe that acceptance of one's personal responsibility for past actions must be accompanied by corrective action and not include exploitation for personal gain. I believe that former criminals like me must do more than just express regret for our crimes and pay whatever punishment society imposes upon us.  I believe that it is our obligation and responsibility to educate society, so that society can avoid future perils caused by new generations of criminals. I also believe that any person's true test of character comes from overcoming past misdeeds and wrongdoing and trying to do something positive out of it without any personal gain or recognition.

November 19, 2006 at 03:38 PM | Permalink

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Comments

When I was a kid we used to go to Crazy Eddie's and gaze at VCRs on sale for $25. We used to buy Nintendo games for next to nothing. We all had the yellow tee-shirts. I was crushed when it was all revealed to be a financial house of cards.

Posted by: Ben | Nov 20, 2006 11:26:41 AM

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In the body of your email, please indicate if you are a professor, student, prosecutor, defense attorney, etc. so I can gain a sense of who is reading my blog. Thank you, DAB