Former Crazy Eddie co-founder, president and chief executive officer, Eddie Antar, pled guilty to racketeering and securities fraud and was sentenced to eight years in prison and ordered to pay more than $150 million in fines. He is also liable for more than $1 billion from various civil suit judgements against him.
The company's chief financial officer, Sam Antar, who helped mastermind the fraud, assisted federal prosecutors in their investigation of the crime and testified against his cousin Eddie. Sam's assistance helped him avoid prison time, and paved the way for Sam's new, honest career as a white collar crime consultant. In this capacity Sam advises federal and state law enforcement personnel, as well as businesses, on white collar crime issues and provides training on how to identify and catch the criminals. He also serves as an independent whistleblower by identifying potential white collar criminal activity and referring it to law enforcement agencies.
Sam's adopted motto, "It takes one to know one," certainly seems to true, but unfortunately, there are not enough "ones" like Sam out there helping law enforcement in their battle against white collar crime. Nor are there enough law enforcement agents. According to Sam it is the "golden era of white collar crime," and the federal government is currently devoting far less resources into combatting white collar crime than it did when he was arrested.
With government resources limited Sam suggests that people and companies need to do a better job policing themselves for white collar criminal activity. "Don't trust, just verify. The inclination to trust and the presumption of innocence gives fraudsters the initial benefit of any doubt while they are free to plan and execute their crimes,” Sam tells his consulting clients.
If you are feeling nostalgic for a Crazy Eddie commercial you can view them on You Tube here: https://www.youtube.com/watch?v=4yYGoO5imyY.