crazy eddie

Sam Antar on Green Mountain: Inventory Changes Signal Trouble

by

Sam Antar Crazy Eddie CFOSam Antar, former CFO of Crazy Eddie, a massive fraud in the 1980s, has been following Green Mountain Coffee Roasters (GMCR) for a long time. He has pointed out red flags of fraud over and over, and the current problem is with the level of inventory. Sam has noted that the inventory of Green Mountain has grown to “toxic levels,” even when the company was beating revenue and earnings targets.

Here’s a recent interview in which Sam details the inventory issue at Green Mountain, along with a few other criticisms of management.

Read moreSam Antar on Green Mountain: Inventory Changes Signal Trouble

Conservatism is no excuse for false financial statements, Overstock.com

by

I’ve written extensively in the past about the train wreck that is Overstock.com (NASDAQ:OSTK) and its nutty CEO, Patrick Byrne.  Just when I think there couldn’t possibly be more to write about the horrible company and Byrne’s crazy antics, I’m proven wrong.

For those that have been following Overstock.com for the past few years, it came as a great surprise that the Securities and Exchange Commission decided to investigate the company and its financial reporting. It came as a surprise because for three years, Sam Antar (former CFO of Crazy Eddie and convicted felon) has been exposing their financial reporting misdeeds on his blog. Yet the SEC didn’t seem willing to take any action.

Read moreConservatism is no excuse for false financial statements, Overstock.com

The Journal of Accountancy recommends Sam Antar’s blog

by

For the Journal of Accountancy’s “Smart Stops on the Web” column: IT TAKES ONE TO KNOW ONE www.whitecollarfraud.blogspot.com Who knows fraud better than a fraudster? Sam E. Antar, former Crazy Eddie Inc. CFO and convicted felon, shares his views and advice on white collar crime, securities fraud, internal controls, Sarbanes-Oxley and more on his blog. … Read more The Journal of Accountancy recommends Sam Antar’s blog

Fortune on Sam Antar – Takes One to Know One

by

sam.gifThe December 24 issue of Fortune magazine has an article on Sam E. Antar, the man most widely known as the former CFO of Crazy Eddie, a New York City electronics retailer that went down in flames in 1987 after the discovery of massive fraud being perpetrated by Sam and his cousin Eddie.

The story begins:

Read moreFortune on Sam Antar – Takes One to Know One