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Showing posts from April, 2011

Reuters on FBI Efforts to Profile White-Collar Criminals

Matthew Goldstein from Reuters wrote a fascinating article "Special Report: From Hannibal Lecter to Bernie Madoff" about FBI efforts to profile white-collar criminals (PDF link, video link).
(Reuters) - Bernard Madoff -- the architect of history's biggest Ponzi scheme -- and Gary Ridgway - the Green River killer -- would seem to have little in common aside from being branded as "monsters" in the tabloids.But a team of FBI agents, the same ones who specialize in helping local police track down serial killers like Ridgway, are using their expertise in behavioral profiling to target white collar criminals like Madoff.For about two years now, agents with the Federal Bureau of Investigation's Behavioral Analysis Unit have been consulting with their colleagues in New York who specialize in securities fraud detective work. The BAU agents are going over the case files put together by the FBI for Madoff and other convicted scammers like Bayou Group's Samuel Israe…

Government Accounting Makes Crazy Eddie's Numbers Look Sane

I should have been a politician instead of a white-collar criminal. I could have lied to my victims legally and avoided prosecution for my crimes. Today, I appeared on Fox Business Network's Varney & Co. and discussed our government's accounting tricks.

Watch the latest video at video.foxbusiness.com

Received great reviews from viewers, too.


Written by:

Sam E. Antar


Disclosure

I am a convicted felon and a former CPA. As the criminal CFO of Crazy Eddie, I helped my cousin Eddie Antar and other members of his family mastermind one of the largest securities frauds uncovered during the 1980's. I committed my crimes in cold-blood for fun and profit, and simply because I could.

If it weren't for the heroic efforts of the FBI, SEC, Postal Inspector's Office, US Attorney's Office, and class action plaintiff's lawyers who investigated, prosecuted, and sued me, I would still be the criminal CFO of Crazy Eddie today.

There is a saying, "It takes one to know on…

Why is Overstock.com obstructing California District Attorney’s investigation into allegations of consumer fraud?

Updated at 10:40 PM ET (see bottom of article)

On November 17, 2010, District Attorneys from seven California counties sued Overstock.com (NASDAQ: OSTK) alleging that the company has engaged in fraudulent pricing practices after a two year investigation. The lawsuit alleged that:
9. Beginning on a date no later than January 1, 2006, Overstock routinely and systematically made untrue and misleading comparative advertising claims about the prices of its products.[Snip]11. …Overstock used various misleading measures to inflate the comparative prices, and thus artificially increase the discounts it claimed to be offering consumers.[Snip]22. Often Overstock has not been determining or verifying the price other merchants charge for those identical products. Rather, Overstock has been using various misleading methods to make up its own “straw-man” prices which it claims other merchants are charging for those products, and then claiming that its own prices are significantly lower.23. Overstock…