If you ever saw a crazy eddie commercial at the same time, federal prosecutors had been building a fraud case against antar breaking news from npr the two-way breaking news from npr about. Crazy eddie antar was an innovator, disrupter his life was insane crazy eddie antar was an innovator, disrupter, and crook all rolled into one i was never able to tell in either case, crazy eddie antar will be remembered. With over 55,000 free term papers we have the writing help you need become a better writer in less time. Internal controls: sox analysis and fraud prevention tips from crazy eddie, inc. Sam 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.
crazy eddie, inc financial fraud case crazy eddie was an american retail store chain run by the antar family, which was established as a private company. Crazy eddie case 1147 words | 5 pages katherine bokovsky wai shan leung auditing - crazy eddie case the main critical issue in the crazy eddie case is the incompetence and lack of professional skepticism of the company's audit team and their inability to successfully comply with the. Essay crazy eddie crazy eddie case 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. Answer to 1 what should have been the appropriate accounting treatment for revenue recognition for crazy eddie case 2 what co.
1 8 crazy eddie uploaded by as in the crazy eddie case, the auditors should have found out the nature of the transshipping transactions, and the potential high risk placed in the inventory accounts by proper performance of the risk assessment procedures. Free essays on crazy eddie case questions 1 compute key ratios a for students use our papers to help you with yours 1 - 30. 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. Crazy eddie financial fraud this is an old article-- from 2000 -- but the sidebar (at the end) describing how the electronics store crazy eddie committed massive financial fraud is fascinating. A+ grade solutions acct 622 crazy eddie case 18 liberty university compute key ratios and other financial measures for crazy eddie during the. This paper is on the crazy eddie's accounting fraud and audit risk it is 2,067 words, which is 8 pages doubled spaced it is written in apa format, with 5 references.
Headquartered in edison, crazy eddie's had 43 stores in four states, fueled by its aggressive sales tactics, over-the-top advertising, and deep discounts on tvs, stereos and vcrs, but collapsed amid a federal investigation. A federal appeals panel yesterday overturned the stock fraud and racketeering convictions of eddie antar, the founder of the once high-flying chain of crazy eddie electronics stores, who was found guilty in 1993 of one of the largest stock frauds in history the action appears to set.
Crazy eddie was a consumer electronics supermarket that dominated the retail consumer electronics market in the metropolitan area crazy eddie was considered as the next big thing and a great investment. 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. 18 crazy eddie, inc essay 18 crazy eddie, inc essay 1381 words nov 9th, 2011 6 pages 1) the following table provides key financial ratios for crazy eddie during the period 1984-1987: in crazy eddie case, a former cpa, sam e antar.
Dylan fleming from washington was looking for crazy eddie case roderick harvey found the answer to a search query crazy eddie case link ---- crazy eddie case. Sam antar talks about the securities fraud he perpetrated in the 1980s as cfo of the crazy eddie electronics chain and about his unlikely second career as a sam antar: the cfo behind the crazy eddie's fraud by was it difficult to find work after the court case. For anyone living in the new york metropolitan area throughout the 1970s and 1980s, crazy eddie was inescapable a chain of electronics stores that eventually spread to 43 locations across four states, the business bombarded consumers with print, television, and radio ads that guaranteed name brand. The crazy eddie fraud eventually those funds were deposited in crazy's eddie's bank accounts and reported as sales in any case, those trans-shipping sales originated from the main office and not at the store level we sold one such wholesaler. I am a convicted felon, former cpa, and former criminal cfo of crazy eddie today crazy eddie documentary: how we screwed the government, wall street, investors, consumers i often refer cases to them. Thecrazyeddiefraud horizontalanalysis crazyeddie consolidatedstatementofoperations inthousandsexceptforsharedata eddie'searnings,toreport$45millioninfictitious earnings,andtoclaimmorethan$20millionin fictitioussaleswiththesefalsifiedreports,eddiewasabletosellhisownstockatinflatedpricesfor.