Wednesday, October 07, 2009

Crain's New York Business: Crazy Like a Fox - Aaron Elstein Interviews Me

The interview is available on newsstands or it can be downloaded from's Crain's New York Business with a trial subscription here. You can also read the article in Investment News (Crain's sister publication) here.

Here are some quotes:

"Guess who's tipping off the SEC on alleged accounting frauds? None other than the guy who cooked the books at Crazy Eddie...."

"Despite his felonious past, Sam Antar has earned credibility with law enforcement officials. He’s spent much of the past decade talking to the FBI, the Justice Department, the IRS, accounting students and business groups, explaining how Crazy Eddie fooled auditors for so long.The former CPA says he feels bad about what he did and wants to help overmatched investigators as they try to root out savvy fraudsters."

The article also discusses how I exposed Overstock.com's "cookie jar" reserves that violate Generally Accepted Accounting Principles (GAAP). Based on my forensic accounting analysis, the Securities and Exchange Commission took the very usual step of re-opening an investigation of financial reporting irregularities at Overstock.com (NASDAQ: OSTK) after dropping a previous investigation just fifteen months earlier in June 2008. See my previous blog post here.

To be continued.....

Written by:

Sam E. Antar

Disclosure: I am a convicted felon and a former CPA. As the criminal CFO of Crazy Eddie, I helped Eddie Antar and other members of his family mastermind one of the largest securities frauds uncovered during the 1980's.

I do not own Overstock.com securities short or long. My research on Overstock.com and in particular its lying CEO Patrick Byrne is a freebie for securities regulators and the public in order to help me get into heaven, though I doubt that I will ever get there anyway. I will probably end up joining corporate miscreants such as Patrick Byrne in hell.

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