Seeking Alpha

Sam E. Antar's  Instablog

Sam E. Antar
Send Message
Sam E. Antar is a convicted felon and a former CPA. As the criminal CFO of Crazy Eddie, Mr. Antar helped mastermind one of the largest securities frauds uncovered during the 1980s. Today, Sam E. Antar advises federal and state law enforcement agencies about white-collar crime and trains them to... More
My company:
Sam Antar
My blog:
White Collar Fraud
  • What is Accounting? 0 comments
    Sep 16, 2010 4:12 AM
    The best definition of accounting I've ever heard comes from securities attorney Howard Sirota appearing on Russia Today's segment, "US Marks two years since Lehman Brothers collapse."
    The difference between arithmetic and accounting is that in accounting the result can be any number you want it to be.
    Back in the day, my former nemesis Howard Sirota was lead attorney in the successful class action litigation against Crazy Eddie. Today, Sirota represents whistleblowers, such as me, who are frequent targets of retaliation by unscrupulous public companies such as Overstock.com (NASDAQ: OSTK).

    Written by,

    Sam E. Antar

    Disclosure:

    I am a convicted felon and a former CPA. As the criminal CFO of Crazy Eddie, I helped my cousin Eddie Antar and other members of our family mastermind one of the largest securities frauds uncovered during the 1980's. I committed my crimes in cold-blood for fun and profit, and simply because I could.

    If it weren't for the efforts of the FBI, SEC, Postal Inspector's Office, US Attorney's Office, and class action plaintiff's lawyers who investigated, prosecuted, and sued me, I would still be the criminal CFO of Crazy Eddie today.

    There is a saying, "It takes one to know one." Today, I work very closely with the FBI, IRS, SEC, Justice Department, and other federal and state law enforcement agencies in training them to identify and catch white-collar criminals.

    I do not seek or want forgiveness for my vicious crimes from my victims. I plan on frying in hell with other white-collar criminals for a very long time.

    Recently, I exposed GAAP violations by Overstock.com (NASDAQ: OSTK) which caused the company to restate its financial reports for the third time in three years. The SEC is now investigating Overstock.com and its CEO Patrick Byrne for securities law violations (Details here, here, and here).

    In addition, the SEC is now investigating possible GAAP violations by Bidz.com (NASDAQ: BIDZ) after I alerted them about the company's inventory accounting practices.

    I do not own any securities in Overstock.com or Bidz.com, long or short. My investigation of these companies is a freebie for securities regulators to get me into heaven, though I doubt I will ever get there.
    Themes: Accounting
Back To Sam E. Antar's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

  • Overstock.com Hatchet Man Judd Bagley's Downward Spiral: Junkie, Confessed Criminal, Admitted Adulterer http://bit.ly/1b2YR4k $OSTK
    Apr 17, 2015
  • Closing the File on a Criminal and Junkie Named Judd Bagley http://bit.ly/1b2Yx5u $OSTK
    Apr 17, 2015
  • Overstock.com Hatchet Man Judd Bagley's Downward Spiral: Junkie, Confessed Criminal, Admitted Adulterer http://bit.ly/1yspd55 OSTK
    Mar 30, 2015
More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.