
Crazy Eddie
A consumer-electronics chain founded in Brooklyn became the center of a large accounting and securities fraud scheme involving skimming cash, underreporting income, overstating inventory and inflating profits to the public markets. The company went public in 1984 and by the mid-1980s regulators and investors began uncovering material misstatements; federal investigators opened probes in 1987 and the company entered bankruptcy and liquidation in 1989. Founder Eddie Antar fled to Israel in 1990, was returned to the U.S. in 1993, ultimately pleaded guilty in 1996 and was sentenced in 1997; civil recovery efforts extended into the 2010s.
New York City














