Crazy Eddie

Uncommon card · No. 122118

Crazy Eddie was a consumer electronics retail chain in the Northeastern United States. It was founded in 1969 in New York City by Eddie Antar and Sam M. Antar and initially operated as ERS Electronics, named for its three initial partners: Eddie Antar, Ronnie Gindi, and Eddie's father Sam M. Antar. The chain expanded in the New York metropolitan area and became known for discount pricing and extensive radio and television advertising featuring spokesperson Jerry Carroll. At its peak, Crazy Eddie operated 43 stores in four states and reported more than $300 million in sales. The company engaged in fraudulent business practices, including underreporting income, skimming sales tax receipts, and paying employees off the books. During the process of becoming a public company, it continued to engage in fraud, including overstating profits and inflating inventory. Eddie Antar resigned from the company in December 1986 after selling company stock. In November 1987, the board approved the sale of...

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