Crazy Eddie Commercials 1980's
If you lived anywhere New York in the 80's you may remember seeing the Crazy Eddie TV Commercials.. Crazy Eddie's Electronics Outlet was created in 1971 by Eddie Antar, a innovative crook from Brooklyn, and his family..
Crazy Eddie electronics chain located primarily in the Northeastern United States- previously called ERS Electronics (ERS stood for Eddie, Rose and Sam – Eddie’s parents). It wa
More..s started in 1971 in Brooklyn, New York, by businessmen Eddie and Sam M. Antar. The chain rose to prominence throughout the Tri-State Region as much for its prices as for its memorable radio and television commercials, featuring a frenetic, "crazy" character promoting the stores (Crazy Eddie spokesman played by radio DJ Jerry Carroll). At its peak, Crazy Eddie had 43 stores in four states, and earned more than $300 million in sales.
In February 1987, the United States Attorney's Office for the District of New Jersey commenced a federal grand jury investigation into the financial activities of Crazy Eddie. In September of that year, the United States Securities and Exchange Commission initiated an investigation into alleged violations of federal securities laws by certain Crazy Eddie officers and employees.
Unable to sustain his fraudulent business practices, co-founder Eddie Antar cashed in millions of dollars worth of stock and resigned from the company in December 1986. Crazy Eddie's board of directors approved the sale of the company in November 1987. The entire Antar family was immediately removed from the business. The new owners quickly discovered the true extent of the Antar family's fraud, but were unable to turn around Crazy Eddie's quickly declining fortunes. In 1989, the company declared bankruptcy and was liquidated.
Eddie Antar became the focus of SEC and Federal investigations, and was eventually charged with a series of crimes. Antar fled to Israel in February 1990, but was returned to the United States in January 1993 to stand trial. His 1993 conviction on fraud charges was overturned, but he eventually pleaded guilty in 1996. In 1997, Antar was sentenced to eight years in prison and received massive fines.
Go here to see the entire story:
http://www.liveleak.com/view?i=45f_1200533481 Less..
Added: Jan 17 2008 In: entertainment
By: Maxisminion
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