If you're interested in learning about the psychology and methodology of fraud -- and every investor should be -- there are two excellent videos now available on YouTube. I don't know the date on them, or what they were made for, but they're definitely worth watching.
The first is an interview with Barry Minkow, who was in federal prison at the time for the Zzzz Best fraud. The second features former Crazy Eddie CFO, Sam E. Antar.
When I listen to these former crooks explain what they did, it all sounds so easy. While their crimes occurred back in the 1980s, I wonder how much has changed.











Reader Comments (Page 1 of 1)
9-13-2008 @ 4:28PM
Sam E. Antar (former Crazy Eddie CFO and a convicted felon) said...
Unfortunately, very little has changed since my days as the criminal CFO of Crazy Eddie despite the passage of the Sarbanes-Oxley Act. Auditors do not receive adequate training, Wall Street analysts answer “amen” to management hype, audit committee’s rubber stamp management and auditor decisions, and worst yet; the Securities and Exchange Commission is overwhelmed and under resourced. White-collar crime is a cancer on our great capitalist economic system.
9-13-2008 @ 6:35PM
william lindblad said...
You have to be pulling my leg (or some other body part)
If you ant advice on this subject from the resident experts - go to Nigeria.
Yeah - I got it right, they are the best.
If you stayed up you would already know that there is a private movement in France that goes after them - it's that bad.
CNN's did a couple too - the U.S. is prime stomping ground. We ship em out as persona non-grata and they get a new name and passport and come right back.
Besides, where economics get tough - the scam artists come out of the walls.
Tell you something? They are the harbingers.
9-14-2008 @ 12:18AM
jerry mcdonald said...
Fraud-is going to college,joining a fraterity,getting a degree,and climbing the corporate ladder.Go into public service and get paid by companies to screw the public.I didn't even go to college,saved all that money,and saved my character!The best fraudsters are wall street,politicans,and CEO'S.,and the cells are going to fill up.White collar crime pays the best and serve the least amount of time in jail.
9-14-2008 @ 1:09AM
mike said...
its easy to commit fraud... black O'Bummer and the clintons have been doing it for years... just cruise the blogs for an idiot, dummacraps are plentiful this time of the year