January 5, 2010 | CUNY Lecture Series, York College
When the Crazy Eddie electronics store chain collapsed in 1987, its founder, Eddie Antar, and three other principals — all family members — were accused of swindling millions in investors’ money in one of the largest stock fraud cases ever brought by the Securities and Exchange Commission. Today, Eddie Antar’s cousin Sam E. Antar, the company’s chief financial officer, is working for the other side. “The only reason I was sorry is because I got caught,” said Antar, a convicted felon who now educates law enforcement officials about the inner workings of insider trading. “In order to understand criminal behavior, you have to take morality out of the equation.” In a lecture at York College, Antar discussed the psychology of the criminal mind and how his company, known for TV commercials touting its “insane” prices, was able to deceive the public.