Crazy eddie, inc case 16 team members crazy eddie facts high school drop out at age sixteen began his career by peddling tv sets in his brooklyn neighborhood famous for his “crazy” sales tactics and advertisements most distinctive trait was his inability to trust anyone outside his large extended family in the. Crazy eddie t-shirts crazy eddie tank tops crazy eddie long sleeve t-shirts crazy eddie baseball t-shirts crazy eddie kids t-shirts crazy eddie crewneck sweatshirts crazy eddie hoodies crazy eddie wall art crazy eddie phone cases crazy eddie laptop cases crazy eddie notebooks crazy eddie mugs crazy eddie. Disc jockey jerry carroll taped more than 7500 of the radio and television spots as a hyper salesman who promised that crazy eddie's prices were in some cases, researching and verifying a painting's history can save museums and art collectors buyer's remorse down the road, but this becomes an. So says sam antar, a felon and former chief financial officer of crazy eddie inc, a well-known criminal enterprise from the 1980s that cost many people mw: is your point that the sec is allocating its resources to big insider-trading cases involving hedge funds and missing accounting-fraud cases and. Free essay: crazy eddie, inc question 1 key ratios and other financial measures : |pro forma balance sheet ratio |1984 |1985 |1986 |1987 | | |account. Table of contents company overview and profile financial ratios -common sized balance sheet analysis audit procedures that were not performed retail industry , electronic store segment lowballing missing invoices timing of the case fraud frauds impact on stock price references this paper is on the crazy.
Free essay: in crazy eddie case, a former cpa, sam e antar, was a key individual who helped eddie antar mastermind one of the largest securities frauds. Video created by west virginia university for the course forensic accounting and fraud examination what is a preditor fraudster how do you protect your organization against a preditor fraudster learn how internal control concepts and. This documentary details what went on in the crazy eddie fraud crazy eddie was an electronics retailing chain that quickly became a success story and went on to raise millions of dollars in an ipo but the apparent success was all based on a culture of highly questionable, and outright fraudulent and criminal business. This week is international fraud awareness week if you've ever taken an accounting or finance class chances are you've probably heard of crazy eddie crazy eddie is a fraud case study that has been taught to aspiring accountants for decades owned by eddie and sam antar, crazy eddie was a chain.
Eddie antar, the founder of electronics chain crazy eddie who went to prison for fraud, died on saturday at the age of 68. Crazy eddie was a consumer electronics chain in the northeastern united states the chain was started in 1971 in brooklyn, new york, by businessmen eddie and sam m antar, and was previously named ers electronics (ers stood for eddie, rose and sam rose and sam were eddie's parents) the chain rose to.
For sheer outrageousness and audacity, few business stories of the last 10 years compare with the massive scam perpetrated by the owners of crazy eddie lawyer howard sirota pursued the case for seven years in the name of shareholders who lost millions i grew up in the same neighborhood as eddie. In the post-madoff world, the crazy eddie fraud may appear almost quaint in its day, however, it was a very significant case former us attorney michael chertoff (later us secretary of homeland security), who prosecuted antar, said at the time “by any measure, this is a staggering securities fraud,. Crazy eddie facts high school drop out at age sixteen began his career by peddlimg tvsets in his brooklyn neighborhood famous for his “crazy” sales tactics and advertisements sometimes he would lock the door until the customer bought an item his tv and radio ads were memorable as well as annoying. In the 1980s, eddie antar, the owner of crazy eddie's electronics, skimmed millions of dollars from the company to hide it from the irs that was the original plan, anyway, but he and his co-conspirators eventually decided they could make better use of the money if they sent it back to the company disguised as revenue.
Table of contents pages introduction 1 - 2 mckesson & robbins 3 - 12 allied crude vegetable oil refining 13 - 18 zzzz best 19 - 27 crazy eddie 28 - 39 phar-mor 40 - 49 foundation for new era philanthropy 50 - 56 enron 57 - 68 conclusion 69 - 71 works cited 72 - 73 viii. Emilia skupiewska-drozd acct 723 prof a dignam case 18 crazy eddie inc question 1 key ratios for crazy eddie: 1987 1986 liquidity: quick ratio 14 06 current ratio 241 14 solvency: times interest earned 49 333 long-term debt to equity 097 018 debt to assets 07 07 07 activity: inventory turnover 322 451.
The crazy eddie, inc chain of consumer electronics stores began as a small operation in the 1970s and in a fairly short time grew into a major new york area consumer retail chain with stores in four states and with reported annual sales totalling over $300 million crazy eddie began as a family-controlled operation with.
Running head: crazy eddie case 18 1 questions 1 compute key ratios and other financial measures for crazy eddie during the period 1984- 1987 identify and briefly explain the red flags in crazy eddie's financial statements that suggested the firm posed a higher-than-normal level of audit risk there were several red. Question: what specific mistakes (apart from failure to notice “red flags”) did the auditor make for each mistake, describe what the auditor should have done if you were the managing partner for the cpa firm and had full knowledge of all the facts and events in this case, what changes in policy or. The final phase of the crazy eddie fraud began after the ipo and was motivated by a desire to increase profits so the stock price could move higher and the antar family could sell its holdings over time management now reversed the flow of skimmed cash and moved funds from secret bank accounts and safety deposit. Eddie antar, his father sam m antar, and other members of eddie's immediate family, i helped to mastermind one of the largest securities frauds perpetrated in the 1980's the notoriety of this case has continued into the 21st century “crazy” eddie antar, dubbed the “darth vader of capitalism” by the.