Learn from a Convicted Felon about White Collar Fraud
My name is Sam E. Antar. I am a convicted felon, former CPA, and former Chief Financial Officer of Crazy Eddie, Inc. During the 1980s, I helped mastermind with my cousin Eddie Antar and Uncle Sam M. Antar (co-founders of the company) one of the largest securities frauds of its time. Crazy Eddie Antar was coined by US Attorney Michael Chertoff as, "the Darth Vader of Capitalism." This securities fraud cost investors hundreds of millions of dollars, cost many people their life savings, cost many people their jobs and careers, cost creditors hundreds of millions of dollars, and many people's suffering that cannot be measured. I was the government's key witness in both the criminal and civil prosecutions. I also fully cooperated with all civil plaintiffs in the prosecution of their claims. I make no excuses for my criminal conduct. Nor should I receive any praise for my cooperation.
I take full and complete responsibility for my actions and apologize to all the victims of my crimes. Also, I apologize to the other persons who would never have committed a crime, if not for my efforts to recruit them into the conspiracy and convince them to lie thereafter. Furthermore, I apologize to the government lawyers, plaintiff's lawyers, government investigators, and plaintiff's investigators whose efforts in prosecuting the truth of the crimes at Crazy Eddie were hampered by my willful stonewalling prior to me relenting and later deciding to cooperate with the investigations. I apologize to anyone I deceived, directly or indirectly, including but not limited to the shareholders, employees, creditors, public accounting firms, Wall Street firms, financial analysts, the press, etc.
However, my apologies, acceptance of responsibility, and the punishment imposed upon me by the court is not enough.
I believe that acceptance of one's personal responsibility for past actions must be accompanied by corrective action and not include exploitation for personal gain. I believe that former criminals like me must do more than just express regret for our crimes and pay whatever punishment society imposes upon us. I believe that it is our obligation and responsibility to educate society, so that society can avoid future perils caused by new generations of criminals. I also believe that any person's true test of character comes from overcoming past misdeeds and wrongdoing and trying to do something positive out of it without any personal gain or recognition.
At Stanford University Rock Center for Corporate Governanance
There is a saying, "It takes one to know one."
There is a saying, "It takes one to know one." Today, I advise federal and state law enforcement agencies about white-collar crime and train them to identify and catch the crooks. Often, I refer cases to them as an independent whistleblower. I teach about white-collar crime for professional organizations, businesses, and colleges and universities. Professionals can receive CPE or CLE credits. (See list of government entities, professional organizations, businesses, and universities on Speaking Engagements and Consulting page). Additional services include forensic accounting, financial reporting analysis, due diligence, litigation support, whistleblower investigations, and research on companies.
Advised the New Jersey State Assembly Republican Policy Committee about white-collar crime and corruption as an expert witness.
Please contact me to schedule a speaking engagement and for advice about protection against white-collar crime.
White Collar Fraud Blog & Articles
My White Collar Fraud blog discusses, white-collar crime, securities fraud, financial disclosures, the accounting profession, internal controls, Sarbanes-Oxley, government corruption, and other related topics. Red flags and other financial reporting irregularities investigated and reported in this blog are referred to appropriate government agencies as a whistleblower. Material from my blog has been used by the Securities and Exchange Commission and in class action lawsuits against certain public companies for improper accounting practices and financial disclosures. This blog was recommended by the Journal of Accountancy. The Huffington Post named me as one of the 25 most feared financial reporters in America.
Contributor and Guest Articles: Seeking Alpha, Newsweek, Business Insider, and White Collar Crime Fighter Newsletter.
Media Commentary, Mentions, and Referrals
Appeared on Fox News, Fox Business Channel, CNBC, Canadian Broadcasting Corporation, Canadian Business News Network, National Public Radio's Planet Money, Progressive Radio Network, Reuters TV, RT News, and other media outlets to give insights on white-collar crime. (See TV and Radio page and Media Video page).
Views on white-collar crime, securities fraud, financial reporting irregularities, Sarbanes-Oxley, corruption, and other related topics are frequently covered in the print media, online media. blogosphere, and books. (See Media Mentions page and Book Mentions page).