crazy eddie crazy eddie american retail business sold electronic goods company business forms eventually famous infamous chain retail shops located new_york new_jersey connecticut pennsylvania sold telephone second venture began retail shop eventually reorganized internet telephone business recent online buy telephone store crazy eddie ventures conducting business crazy eddie started brooklyn new_york businessmen named eddie cousin partner eddie father sam chain important tri state region prices memorable radio television commercials featuring crazy character played radio announcer copied act early television commercial actor car electronics salesman maximum stores chain earned million sales commercials ended invariably tag line crazy eddie prices insane despite chain relatively limited geographical reach known early 1970s february attorney commenced federal grand jury investigation billing practices crazy eddie september year initiated investigation alleged violations federal laws certain officers employees eventually charged series crimes unable sustain fraudulent business practices founder millions dollars worth stock resigned company december crazy eddie board directors lost control company november battle group directed known entire family immediately eliminated business new owners quickly discovered true extent family fraud unable stop crazy eddie decreasing fortunes company declared bankruptcy crazy eddie symbol corporate fraud time accounting scandals fled israel february returned united_states january trial conviction fraud charges overturned eventually pleaded guilty sentenced years prison paid large fines released prison beginnings grandparents syrian jews relocated brooklyn new_york syria worked market stalls alongside arabs including turks eddie father retailer surprise family eddie retailer predecessor consumer electronics shop called sight sound property company owned son eddie cousin sight sound located kings highway brooklyn began operation offered electronics regular prices aggressive sales techniques eddie quickly known crazy eddie despite technique months shop eddie nearly bankrupt bought ownership stake sight sound retained stake left day day operations eddie sight sound store kings highway renamed eddie continued sales tactics renamed crazy eddie shop time successful eventually eddie closed location relocated business bigger shop blocks sight sound old location opened second crazy eddie location new_york followed located manhattan year established corporate main office brooklyn new_york advertising essential crazy eddie success advertising campaign started accident bought commercial time new_york radio station night live commercial ended reading shop slogan prices insane manner crazy eddie prices told line way time working relationship begun beginning began television advertisement years performed commercials manner radio memorable promotions crazy eddie annual christmas august sale dress santa suit commercial threw fake trademark look commercial wearing blue suit lighter blue shirt appearances later years appeared spanish language crazy eddie advertisement speaking role instead appearance consisted holding radio ear walked commercial spokesman stopping wave camera times 1980s unique radio television ads broadcast tri state region acting identified company people thought actually crazy eddie commercial effect superman styled superhero named parent company distributor superman movie series found commercial problematic sued chain trying stop time warner parent company video game company largest customer systems games crazy eddie retaliation lawsuit said warner going sue commercial stop selling products stores suit eventually settled commercials memorable hbo news parody series necessarily news created parody television commercial featuring caricature infamous iran affair known crazy selling weapons bargain prices early commercial parody appeared nbc saturday night live january dan creation crazy commercials significant culturally 1980s commercials appearing background contemporary motion pictures example frightening sight television set typical commercial screen character comedy splash crazy eddie known store appearances notable rock acts including members queen manhattan location tuesday july prior performance evening madison square garden fraud beginning crazy eddie management engaged forms fraud deliberately books reduce eliminate income paid employees books regularly thousands dollars cash earned shops crazy eddie reported income taken began money hundreds thousands dollars israeli bank accounts family estimated million million year height fraud offshore bank account family deposited million difficult hide millions illicit dollars decided way cover growing fraud company public preparation initiated scheme year income actually reported effect showing drastically increasing profit margins company actual profits taking account profits increased approximately reported profits increased nearly despite people closely associated company held initial public offering september symbol shares company sold initially early stock trading share split adjusted eddie recruited cousin known assist company fraud earned degree accounting served penn crazy eddie named chief financial officer company informed million deficit previous year inventory fraud needed hidden additionally instructed find ways growth sales major schemes money operation later known panama pump money deposited israeli banks transferred bank accounts panama accounts opened false names drafted payments crazy eddie money largely store sales totals company public company eddie engaged increasing amounts inventory fraud increase reported profits value stock fiscal year ended march million fiscal year increased million collapse months crazy eddie started arguing wife high school sweetheart began having affair woman named caught eddie wife sister new year eve crazy eddie troubles began immediately afterward relied extensively family members helping appearance immensely successful company goal longer greater disguise previous fiscal year million addition booked million charge backs vendors reduced accounts company fraud difficult disguise public perception crazy eddie commercial success began change october company stock value decreased share december announced resignation president ceo april announced eddie fact retained role president dismissed father eddie share stock worth million million spring company stock cost share additionally earnings decreased previous year franchise sales increase mainly result new store openings eddie began proceedings company private happen houston based businessman management consultant initiated hostile takeover backing purchased million worth stock represented outstanding shares rumors takeover started financial analysts began examine closely crazy eddie financial situation discovered company lost money sold million shares worth million lawsuits filed family eddie briefly attempted counter offer takeover quickly topped funds bid ended new owner crazy eddie november immediately dismissed rest family important jobs financial analysts completed preliminary weeks takeover estimated crazy eddie inventory short million final figure million june crazy eddie suppliers demanding company recover money owed got wish closing crazy eddie began march company stores june crazy eddie served petition creditors paid total owed sought company forced bankruptcy company originally planned fight petition file dismissal days later crazy eddie voluntarily filed chapter bankruptcy protection company president ceo cited problems created creditors position termed ill advised said business conducted usual remaining stores crazy eddie strong franchise company vowed stay business despite crazy eddie continued autumn sales continuing decrease stores unable items stocked lack supplier interest company faced facts management decided chain worth saving soon crazy eddie began going business sales store supply remained minimal merchandise stores sent operation end remaining crazy eddie locations closed chain ceased exist period years crazy eddie gone lucrative retailers united_states trading share bankruptcy legal battles meantime longtime crazy eddie associate named quit company dismissed father sam brothers allen mitchell family dispute provided investigators information concerning crazy eddie fraudulent business practices implicated eddie stated rest family innocent regardless sec served entire family based information gathered investigation sec charged fraud illegal insider trading september january federal district judge ordered million transferred illegally israel ordered appear court explain happened money failed appear arrest warrant issued eddie surrendered week later released ordered appear second hearing failed appear hearing second arrest warrant issued assets frozen fled israel fake passport alias purchased city eddie left country offered testify federal prosecutors exchange immunity pleaded guilty avoided jail time testimony instead sentenced months house arrest hours community service years probation given fines adviser government agencies businesses investigating fraud arrested near june held israel eddie charged federal conspiracy united_states january pleaded guilty charges brought fraud trial began june prosecuted jointly attorneys july found guilty counts fraud brother mitchell found guilty counts acquitted april sentenced years prison stock fraud lawyers immediately filed appeal citing believed bias presiding judge april eddie mitchell overturned federal appeals panel calling eddie capitalism vowed begin new trial eventually pleaded guilty federal fraud charges february sentenced years prison ordered pay million fines addition billion resulting civil suits efforts recover additional money family behalf finally completed revival attempts soon chain closed new_jersey based investment group led bought rights crazy eddie trademark announced january purchased crazy eddie brooklyn flagship store new_jersey intent group reopen chain came attempt grandchildren eddie allen revived crazy eddie electronics chain shop wayne new_jersey online internet venture revived company retained slogan prices insane hired time founded advertisement agency spokesman despite plans expand chain potential stores new crazy eddie expand wayne store shop revived chain closed returned company time business solely internet buy telephone business year website hired advertising disappeared brief attempt revive online retailer crazy eddie ceased exist crazy eddie trademark associated intellectual property acquired texas based company july attempted auction brand domain limited success auction ended reserve price met highest bid march announced brooklyn based businessman bought rights crazy eddie quickly began new online crazy eddie venture reported scouting retail space new retail locations stating wanted open locations years online venture performed business manner crazy eddie online stores selling electronics internet able find retail space sought crazy eddie store chain online business ceased exist page currently occupies
Crazy Eddie