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Retail Gangster: The Insane, Real-Life Story of Crazy Eddie
A biography of the spectacular rise and fall of Eddie Antar, better known as "Crazy Eddie," whose home electronics empire changed the world even as it turned out to be one of the biggest business scams of all time
Back in the fall of 2016 we heard the news about the passing of Eddie Antar, "Crazy Eddie" as he was known to millions of people, the man behind the successful chain of electronic stores and one of the most iconic ad campaigns in history. Few things evoke the New York of a particular era the way "Crazy Eddie! His prices are insaaaaane!" does. The journalist Herb Greenberg called his death the "end of an era" and that couldn't be more true. What's insane is that his story has never been told.
Before Enron, before Madoff, before The Wolf of Wall Street , Eddie Antar's corruption was second to none. The difference was that it was a street franchise, a local place that was in the blood stream of everyone's daily life in the 1970s and early '80s. And Eddie pulled it off with a certain style, an in your face blue collar chutzpah. Despite the fact that then U.S. Attorney Michael Chertoff called him "the Darth Vader of capitalism" after the extent of the fraud was revealed, one of the largest SEC frauds in American history after Crazy Eddie's stores went public in 1984, Eddie was talked about fondly by the people who worked for him. They still do--there are myriads of ex-Crazy Eddie employee web pages that still attract fans, and the Crazy Eddie fraud scheme is now taught in every business school across the United States.
Many years have passed since the franchise went down in spectacular fashion but Crazy Eddie's moment has endured the way that iconic brands and characters do--one only need Google the media outpouring that accompanied his death. Maybe it's because it crystallized everything about 1970s New York almost perfectly, the merchandise and rise of consumer electronics (stereos!), the ads (cheesy!), the money (cash!). In Retail Gangster , investigative journalist Gary Weiss takes readers behind the scenes of one of the most unbelievable business scam stories of all time, a story spanning continents and generations, reaffirming the old adage that the truth is often stranger than fiction.
Back in the fall of 2016 we heard the news about the passing of Eddie Antar, "Crazy Eddie" as he was known to millions of people, the man behind the successful chain of electronic stores and one of the most iconic ad campaigns in history. Few things evoke the New York of a particular era the way "Crazy Eddie! His prices are insaaaaane!" does. The journalist Herb Greenberg called his death the "end of an era" and that couldn't be more true. What's insane is that his story has never been told.
Before Enron, before Madoff, before The Wolf of Wall Street , Eddie Antar's corruption was second to none. The difference was that it was a street franchise, a local place that was in the blood stream of everyone's daily life in the 1970s and early '80s. And Eddie pulled it off with a certain style, an in your face blue collar chutzpah. Despite the fact that then U.S. Attorney Michael Chertoff called him "the Darth Vader of capitalism" after the extent of the fraud was revealed, one of the largest SEC frauds in American history after Crazy Eddie's stores went public in 1984, Eddie was talked about fondly by the people who worked for him. They still do--there are myriads of ex-Crazy Eddie employee web pages that still attract fans, and the Crazy Eddie fraud scheme is now taught in every business school across the United States.
Many years have passed since the franchise went down in spectacular fashion but Crazy Eddie's moment has endured the way that iconic brands and characters do--one only need Google the media outpouring that accompanied his death. Maybe it's because it crystallized everything about 1970s New York almost perfectly, the merchandise and rise of consumer electronics (stereos!), the ads (cheesy!), the money (cash!). In Retail Gangster , investigative journalist Gary Weiss takes readers behind the scenes of one of the most unbelievable business scam stories of all time, a story spanning continents and generations, reaffirming the old adage that the truth is often stranger than fiction.
336 pages, Hardcover
Published August 23, 2022
218 people are currently reading
1234 people want to read
About the author
Gary Weiss
7 books28 followersI'm a journalist and author. My next book is RETAIL GANGSTER: The Insane, Real-Life Story of Crazy Eddie, which will be published by Hachette Books on August 23, 2022.
My previous books were AYN RAND NATION: The Hidden Struggle for America's Soul (St. Martin's Press: Feb. 28, 2012), Wall Street Versus America (Portfolio: 2006) and Born to Steal (Warner Books: 2003).
I was an investigative reporter at BusinessWeek for many years, and was a contributing editor at Condé Nast Portfolio and a columnist at Portfolio.com; I've written for the Daily Beast, Parade magazine, The New York Times, the Big Money, the Globe and Mail and other publications. I also was an adjunct professor at the Columbia University Graduate School of Journalism.
You can follow me on Twitter: @gary_weiss.
My previous books were AYN RAND NATION: The Hidden Struggle for America's Soul (St. Martin's Press: Feb. 28, 2012), Wall Street Versus America (Portfolio: 2006) and Born to Steal (Warner Books: 2003).
I was an investigative reporter at BusinessWeek for many years, and was a contributing editor at Condé Nast Portfolio and a columnist at Portfolio.com; I've written for the Daily Beast, Parade magazine, The New York Times, the Big Money, the Globe and Mail and other publications. I also was an adjunct professor at the Columbia University Graduate School of Journalism.
You can follow me on Twitter: @gary_weiss.
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Displaying 1 - 30 of 118 reviews
January 8, 2023
"Eddie [Antar] epitomized the duality of the American Dream. With only a junior high school education, blessed with imagination and guts, he built a company that was remembered by people who are kids when he was running Crazy Eddie. That alone was a remarkable achievement. Yet his criminal acts were so prolific that some of the most serious were never prosecuted. He turned decent people into criminals - people who were weak and who were loyal. The closer you were to him, the more likely it was that you would become either an accomplice or a victim - sometimes both." -- page 266
I can recall - from my childhood days in the mid-80's - the ubiquitous and low-rent 'Crazy Eddie' TV spots that peppered the commercial breaks on the handful of Philadelphia's UHF channels like WPHL-17. Radio disc jockey / voice actor Jerry Carroll - always nattily attired in a navy blazer and powder blue turtleneck - would animatedly / loudly hawk electronics merchandise and sign off with the signature line "Crazy Eddie - his prices are INSANE! Now, thanks to author Gary Weiss, I not only know the rest of the story but the actual narrative behind this now-shuttered business empire. (The stores began life in the New York City region in the early 70's and branched out to New Jersey, Pennsylvania, Connecticut, and Massachusetts.) The namesake character - Eddie Antar - was a shady street hustler-type who used a fascinatingly diverse bag of questionable and illegal tricks to acquire ill-gotten millions through his commerce. What's worse, his family and his employees (who were likely to be one and the same) were pulled into and/or willingly joined in the rampant fraud - which affected both customers and the U.S. government - that was perpetuated for over a decade. Retail Gangster details all of this plus the unrepentant Antar's flight to avoid prosecution and his eventual legal wrangling and proceedings. After a slow-moving first chapter detailing the family tree this book quickly got cooking (almost as fast as Eddie had his cousin Sam the accountant repeatedly and thoroughly 'cook the books' for his company, you might say) and I found it to be a horrifyingly absorbing account of a man's greed. This was my first great read of calendar year 2023.
I can recall - from my childhood days in the mid-80's - the ubiquitous and low-rent 'Crazy Eddie' TV spots that peppered the commercial breaks on the handful of Philadelphia's UHF channels like WPHL-17. Radio disc jockey / voice actor Jerry Carroll - always nattily attired in a navy blazer and powder blue turtleneck - would animatedly / loudly hawk electronics merchandise and sign off with the signature line "Crazy Eddie - his prices are INSANE! Now, thanks to author Gary Weiss, I not only know the rest of the story but the actual narrative behind this now-shuttered business empire. (The stores began life in the New York City region in the early 70's and branched out to New Jersey, Pennsylvania, Connecticut, and Massachusetts.) The namesake character - Eddie Antar - was a shady street hustler-type who used a fascinatingly diverse bag of questionable and illegal tricks to acquire ill-gotten millions through his commerce. What's worse, his family and his employees (who were likely to be one and the same) were pulled into and/or willingly joined in the rampant fraud - which affected both customers and the U.S. government - that was perpetuated for over a decade. Retail Gangster details all of this plus the unrepentant Antar's flight to avoid prosecution and his eventual legal wrangling and proceedings. After a slow-moving first chapter detailing the family tree this book quickly got cooking (almost as fast as Eddie had his cousin Sam the accountant repeatedly and thoroughly 'cook the books' for his company, you might say) and I found it to be a horrifyingly absorbing account of a man's greed. This was my first great read of calendar year 2023.
June 19, 2022
I was somewhat aware of the Crazy Eddie type advertising back in the day. But I didn’t know about the story of the electronic business and what it really was, namely a scam run by the owners. It reached some amazing highs, but eventually imploded. Wonderfully researched and an interesting read. I received an advance review copy for free, and I am leaving this review voluntarily.
November 7, 2023
If you lived in the New York/New Jersey area in the 70s and 80s, you remember Crazy Eddie. And if you remember Crazy Eddie, you remember the ads.
“Crazy Eddie - His prices are INSANE!!!” the frazzled man in the TV spots would shout. The cheap look of the ads, and the stores themselves, was all part of the message. Eddie kept prices low cause he wasn’t wasting money on fancy TV ads. Yes, the ads were cheap - and so were Crazy Eddie’s prices!!!
Turns out Crazy Eddie was saving money on a lot of other things too. Like paying sales taxes. Or filing legitimate insurance claims.
RETAIL GANGSTER tells the sordid story of Eddie Antar, a la Crazy Eddie, the nom de fraud of the man who cheated so many out of so much.
Even with only a handful of retail stores, Antar found every way to squeeze ill gotten gains by any means. Insurance and tax fraud were the two big ones. As Eddie’s retail empire grew and his stock went public, watch out. Anything he could do to artificially (and illegally) inflate his stock price, he did.
Turns out Crazy Eddie’s moral void was hardly unique or even unusual for that time and place. Just about every business man of the era was on the take. It’s a mystery how any insurance company of the day stayed in business, with so many claws in their pocket. Everyone did it. It was, as they loved to say, part of The Culture. Anybody only knew about Crazy Eddie because those ads made him so damn famous.
And that’s another thing about those ads - the guy shouting about “his prices are INSANE!” wasn’t the real Crazy Eddie. It was an actor. The lunatic in the ads was just another thing about Crazy Eddie that people believed to be real, but wasn’t.
“Crazy Eddie - His prices are INSANE!!!” the frazzled man in the TV spots would shout. The cheap look of the ads, and the stores themselves, was all part of the message. Eddie kept prices low cause he wasn’t wasting money on fancy TV ads. Yes, the ads were cheap - and so were Crazy Eddie’s prices!!!
Turns out Crazy Eddie was saving money on a lot of other things too. Like paying sales taxes. Or filing legitimate insurance claims.
RETAIL GANGSTER tells the sordid story of Eddie Antar, a la Crazy Eddie, the nom de fraud of the man who cheated so many out of so much.
Even with only a handful of retail stores, Antar found every way to squeeze ill gotten gains by any means. Insurance and tax fraud were the two big ones. As Eddie’s retail empire grew and his stock went public, watch out. Anything he could do to artificially (and illegally) inflate his stock price, he did.
Turns out Crazy Eddie’s moral void was hardly unique or even unusual for that time and place. Just about every business man of the era was on the take. It’s a mystery how any insurance company of the day stayed in business, with so many claws in their pocket. Everyone did it. It was, as they loved to say, part of The Culture. Anybody only knew about Crazy Eddie because those ads made him so damn famous.
And that’s another thing about those ads - the guy shouting about “his prices are INSANE!” wasn’t the real Crazy Eddie. It was an actor. The lunatic in the ads was just another thing about Crazy Eddie that people believed to be real, but wasn’t.
December 11, 2022
interesting book about the fraud of the crazy eddie electronics stores in the late 1980's in the states and the aftermath
November 10, 2022
What are the odds that I would meet two people who would later have full length books published about their alleged crimes? Interestingly, both folks I met during my years in the consumer electronics industry in the late 70's, early 80's and they were both involved in the retail side of the industry. The first, Paul Luskin was written up in "Flowers for Mrs. Luskin" and he was tried and convicted of a murder for hire plot in the midst of a difficult divorce. Despite the fact that it could not be proven that she was actually shot (no bullet was ever found, head wound may have come from the gun breaking one of her barrets) and the shooter/invader later confessed that the prosecution dropped a drug charge if he would implicate Paul in a murder plot. He said he went to the house since he believed that is where the daily store receipts were kept. Paul was still sentenced to 15 years.
The subject of this book, Eddie Antar, I only met with a handshake while visiting with one of my representatives, and chatted for maybe 3 minutes before he turned us over to his buyer. I moved on to the financial field shortly thereafter but still followed the rise and fall of the chain and in 2016, Eddie's passing.
If one was anywhere near New York City in those days, one could not miss the screaming ads "His prices are insane!" Ads got famous enough that Saturday Night Live did an parody. The book does a great job of laying out the timeline, the participants, and the crimes.
One reason I am rating this so highly is that it can be difficult to explain financial shenanigans, especially as they relate to bookkeeping in the retail field and manipulation to raise stock prices. So the average person need not fear these topics in this book as he does a good job of laying out the crimes. Book gets a bit crowded with characters as, in addition to the family roster, a host of regulatory and legal types get involved.
An interesting read and it was fun to return to those times.
The subject of this book, Eddie Antar, I only met with a handshake while visiting with one of my representatives, and chatted for maybe 3 minutes before he turned us over to his buyer. I moved on to the financial field shortly thereafter but still followed the rise and fall of the chain and in 2016, Eddie's passing.
If one was anywhere near New York City in those days, one could not miss the screaming ads "His prices are insane!" Ads got famous enough that Saturday Night Live did an parody. The book does a great job of laying out the timeline, the participants, and the crimes.
One reason I am rating this so highly is that it can be difficult to explain financial shenanigans, especially as they relate to bookkeeping in the retail field and manipulation to raise stock prices. So the average person need not fear these topics in this book as he does a good job of laying out the crimes. Book gets a bit crowded with characters as, in addition to the family roster, a host of regulatory and legal types get involved.
An interesting read and it was fun to return to those times.
June 27, 2022
This book brought me back to my childhood in the most ridiculous way possible. It made me vividly remember the most obnoxious commercials ever. "Mom, why is that guy yelling?" Because it was a Crazy Eddie's commercial, that's why.
Retail Gangster tells the story of Eddie Antar, the aforementioned Crazy Eddie. It chronicles more than just his amazing fraud scheme, though. Author Gary Weiss digs into the family dynamics, the methods of the fraud (which there were many), and the personalities of the people involved. The sheer number of names in this book can be dizzying.
However, Weiss makes this a very easy and enjoyable read. He never gets bogged down in any one aspect of the story. He also tells you just enough about the financial chicanery without confusing financially illiterate readers (of which I am one). I am clearly at least partially biased by nostalgia, but I think a lot of people will love this book like I do.
And now I know for certain. His prices actually were, "insaaaaaaaaaaane."
Retail Gangster tells the story of Eddie Antar, the aforementioned Crazy Eddie. It chronicles more than just his amazing fraud scheme, though. Author Gary Weiss digs into the family dynamics, the methods of the fraud (which there were many), and the personalities of the people involved. The sheer number of names in this book can be dizzying.
However, Weiss makes this a very easy and enjoyable read. He never gets bogged down in any one aspect of the story. He also tells you just enough about the financial chicanery without confusing financially illiterate readers (of which I am one). I am clearly at least partially biased by nostalgia, but I think a lot of people will love this book like I do.
And now I know for certain. His prices actually were, "insaaaaaaaaaaane."
February 12, 2024
A perfectly cromulent bedtime listen for someone who grew up with these ads. A skosh too long, a little too much mustard on the chapter transitions, and could bear bit more explanation as to why a fraud this hamfisted wasn't detected, but as an overall reading experience, enjoyable.
August 8, 2025
"Madoff was the nightmare you try to forget. Eddie Antar was the fever dream you try to remember even though it was strange and scary and made no sense. "
That about encapsulates the wild ride that is RETAIL GANGSTER: THE INSANE REAL-LIFE STORY OF CRAZY EDDIE. If you were like me and grew up in the New York tri-state area, you knew Crazy Eddie. And that's what drove me to this book. A dose of nostalgia and a chance to learn the real story to events that happened when I was too young to care.
And the story is as Crazy as Crazy Eddie himself. Author Gary Weiss is adept at spinning an interesting prose from well researched non-fiction. Some may complain, but I enjoyed the deeper dives and side quests into the backgrounds of the various side players that come and go through the narrative. I even appreciate how boiled down he weaved through, what im sure was, complex court trials, and testimonies.
This book is a must-read for anyone who remembers Kerry Carroll screaming at you through your television screen to go shop at Crazy Eddie because his prices are IN-SANE!!! A well told, factual account of a story crazier than the guy it's about.
That about encapsulates the wild ride that is RETAIL GANGSTER: THE INSANE REAL-LIFE STORY OF CRAZY EDDIE. If you were like me and grew up in the New York tri-state area, you knew Crazy Eddie. And that's what drove me to this book. A dose of nostalgia and a chance to learn the real story to events that happened when I was too young to care.
And the story is as Crazy as Crazy Eddie himself. Author Gary Weiss is adept at spinning an interesting prose from well researched non-fiction. Some may complain, but I enjoyed the deeper dives and side quests into the backgrounds of the various side players that come and go through the narrative. I even appreciate how boiled down he weaved through, what im sure was, complex court trials, and testimonies.
This book is a must-read for anyone who remembers Kerry Carroll screaming at you through your television screen to go shop at Crazy Eddie because his prices are IN-SANE!!! A well told, factual account of a story crazier than the guy it's about.
June 23, 2022
I'd like to thank NetGalley and the publisher for allowing a chance at reading this.
Well. I think that if you're someone who grew up in NY during the days of Crazy Eddie you're gonna want to read this book. I did not grow up in NY, but I felt intrigued by the wild/crazy story the summary proposed. In all actuality, there wasn't a lot of crazy going on. If you count what was going on with his marriage, then yes, that bit was crazy.
Though. I can see where other companies got inspiration for salesmen or men shouting in ads about 'their prices so crazy you're gonna wanna come down and see this!' As a child born in the late 80's, I totally remember ads on TV where furniture stores and warehouses were quoting discount prices that were lower than normal.
Otherwise, it was a well written but boring true-crime book.
Well. I think that if you're someone who grew up in NY during the days of Crazy Eddie you're gonna want to read this book. I did not grow up in NY, but I felt intrigued by the wild/crazy story the summary proposed. In all actuality, there wasn't a lot of crazy going on. If you count what was going on with his marriage, then yes, that bit was crazy.
Though. I can see where other companies got inspiration for salesmen or men shouting in ads about 'their prices so crazy you're gonna wanna come down and see this!' As a child born in the late 80's, I totally remember ads on TV where furniture stores and warehouses were quoting discount prices that were lower than normal.
Otherwise, it was a well written but boring true-crime book.
February 3, 2023
Considering most of the crime is “only” white collar this was a surprisingly good listen. Narrator Ferrone does a good job making financial reports sound interesting.
I’m amused to read reviews from people who were unfamiliar with Crazy Eddie since they’re in for a treat when they look those ads up on YouTube. It’s kind of ironic that ads that annoyed so many people at the time give now evoke warm nostalgia.
I was about to say there will never be another Crazy Eddie but of course he was just one in the endless series of psychopathic hustlers keeping the capitalistic machine running
I’m amused to read reviews from people who were unfamiliar with Crazy Eddie since they’re in for a treat when they look those ads up on YouTube. It’s kind of ironic that ads that annoyed so many people at the time give now evoke warm nostalgia.
I was about to say there will never be another Crazy Eddie but of course he was just one in the endless series of psychopathic hustlers keeping the capitalistic machine running
January 19, 2026
Author Gary Weiss is an expert on corporate fraud and corruption. "Retail Gangster" is his investigative report on the tale of Crazy Eddie, the man and his chain of electronics stores. As with many such stories, it is a tangled web of lies and deceit. Weiss does an admirable job, laying it all out like a prosecuting attorney, but also managing to make it an engrossing story. When the crimes of "Crazy" Eddie Antar were exposed I didn't follow the story, so there was a lot of new-to-me information. This is definitely a book for fans of New York City when it was a "cesspool" and it seemed like white collar criminals could get away with anything.
April 29, 2024
Folks, don’t read any other book about CRAZY EDDIE until you’ve read Retail Gangster by Gary Weiss! The fraud disclosed in this book is INSANE!!
We will not be out- lied by any competitor. How much lying you ask? Well . . .
We lied to the banks, our suppliers and customers!
We lied to accountants, lawyers and analysts!
We lied to insurance companies, regulators and tax commissions!
We lied to grand juries, judges and the press!!
We lied to the IRS, the SEC, and the FBI!!
We lied to St Lucia and the State of Israel!!
We even lied to each other!!!
On the march to bankruptcy, every corporate officer SHOULD. GO. TO. JAIL!!
This book will not stay on shelves forever. So rush on down to your local library or nearest bookstore and hide this book in your backpack. It’s a STEAL!*
*Stealing is illegal in all 50 States and the District of Columbia. Your fines and imprisonment may differ.
We will not be out- lied by any competitor. How much lying you ask? Well . . .
We lied to the banks, our suppliers and customers!
We lied to accountants, lawyers and analysts!
We lied to insurance companies, regulators and tax commissions!
We lied to grand juries, judges and the press!!
We lied to the IRS, the SEC, and the FBI!!
We lied to St Lucia and the State of Israel!!
We even lied to each other!!!
On the march to bankruptcy, every corporate officer SHOULD. GO. TO. JAIL!!
This book will not stay on shelves forever. So rush on down to your local library or nearest bookstore and hide this book in your backpack. It’s a STEAL!*
*Stealing is illegal in all 50 States and the District of Columbia. Your fines and imprisonment may differ.
October 8, 2022
Wow. I remember those Crazy Eddie commercials when I was a kid & I admit that I look back at them fondly, but I had no idea Eddie was such a complete & utter scumbag. And don't get me started on his morally bankrupt family. Damn.
January 17, 2026
“Eddie Antar was the fever dream you try to remember”…
After a conversation about Crazy Eddie stores, I learned of this book and had to read it just for the memories. There was so much more…what a wild ride, I’m still processing how they got away with it for as long as they did.
After a conversation about Crazy Eddie stores, I learned of this book and had to read it just for the memories. There was so much more…what a wild ride, I’m still processing how they got away with it for as long as they did.
June 7, 2022
Crazy Eddie: His story is INSAAAAAAAANE! Seriously. I grew up in New York and was familiar with the Crazy Eddie motto and commercials, but not the drama behind the tale. Wow. Just, wow. This was a fascinating peek behind the curtain at how far a monstrous ego was willing to go to make a buck (or several million). Equal parts morality tale, history of advertising and sales, and how a family/friendships can go wrong, Weiss's book is entertaining, informative, and absolutely wild in its revelations of audacity. This was a fun read!
Thanks to NetGalley and the publisher for my obligation-free review copy.
Thanks to NetGalley and the publisher for my obligation-free review copy.
January 5, 2026
It was a fairly mediocre book, because at the end of the day it's not that interesting of a story: the guy behind the Crazy Eddie chain was a crook from a young age, ripping off first tourists in Manhattan and then the state government in Albany by evading sales taxes (which allowed him to charge such crazily-low prices). The crook got greedier, made dumb decisions, victimized a lot of people, got caught, and got a slap on the wrist prison sentence.
There. The end.
Aside from not being that interesting a story, the writing is pretty meh. Oddly Weiss is able to explain some of the financial fraud in ways that's accessible but other, simpler things are described in such a slapdash fashion that it's genuinely not clear what he's talking about. And finally, in the afterword, he says something so head-slappingly idiotic that it took my rating down a full star by itself: "There's little doubt that Eddy was a brilliant man, probably a genius."
No, idiot. He was a stupid, crooked clown who abused his wife and kids and made his fortune engaging in the dumbest and most penny ante fraud imaginable, and his downfall came about entirely as a result of his own idiotic behavior at every turn. He was not brilliant. He was not a genius. If Gary Weiss was too dumb to understand that, he shouldn't have written the book.
There. The end.
Aside from not being that interesting a story, the writing is pretty meh. Oddly Weiss is able to explain some of the financial fraud in ways that's accessible but other, simpler things are described in such a slapdash fashion that it's genuinely not clear what he's talking about. And finally, in the afterword, he says something so head-slappingly idiotic that it took my rating down a full star by itself: "There's little doubt that Eddy was a brilliant man, probably a genius."
No, idiot. He was a stupid, crooked clown who abused his wife and kids and made his fortune engaging in the dumbest and most penny ante fraud imaginable, and his downfall came about entirely as a result of his own idiotic behavior at every turn. He was not brilliant. He was not a genius. If Gary Weiss was too dumb to understand that, he shouldn't have written the book.
June 8, 2023
His prices were insane. So were his finances, his ethics and his personal life. Anyone who lived in the New York area in the 70’s or 80’s knows about Crazy Eddie, the electronics retailer. At the very least you would remember the TV ads that saturated the late night airwaves. They involved a guy waving his hands wildly while screaming about how his prices would not be beat. That wasn’t Crazy Eddie himself, but an actor named Jerry Carroll.
The real retail gangster was Eddie Antar. This is a guy who grew up in a family in which at age 13 he was given a visit to a prostitute as a Bar Mitzvah gift. And, not surprisingly, a big chunk of that family was involved in running Crazy Eddie, profiting from it and selling off what would become the fraudulently over-hyped stock.
Gary Weiss notes that Antar “was schooled in the art of ripping off customers at tourist traps in midtown Manhattan when he was a teenager—a very young teenager.” How could Crazy Eddie offer such low prices? Originally by collecting sales tax but not paying it. And if there was a pipe burst in one of his stores…every piece of unsellable merchandise would quickly be shipped there to be part of the insurance claim.
His personal life was no more upstanding. His own father is quoted as saying about his first wife “she should not be subjected to…the indignities of living with Eddie Antar.”
This is a story of greed and sleaze. It’s about a guy, in fact a bunch of guys, for whom any behavior was justifiable if it meant making money, big chunks of it. He was, in the words of one U.S. attorney, “the Darth Vader of capitalism.” Antar was far from the last of that ilk. There’s the Enron guys, Martin Shkreli and most recently Elizabeth Holmes. Sometimes there’s a fine line between the American Dream and outright thievery.
Weiss goes into great detail about how Crazy Eddie the company came into being and how, once it became public, the real fraud was set into motion. The story is exhaustively researched. I found the most interesting part of the book to be the second half as the law, in the form of the SEC, the FBI and various federal prosecutors put their case together while Antar used a combination of bullshit and flight to try to keep himself out of jail. I don’t think I’m spoiling the story by saying that didn’t work.
The real retail gangster was Eddie Antar. This is a guy who grew up in a family in which at age 13 he was given a visit to a prostitute as a Bar Mitzvah gift. And, not surprisingly, a big chunk of that family was involved in running Crazy Eddie, profiting from it and selling off what would become the fraudulently over-hyped stock.
Gary Weiss notes that Antar “was schooled in the art of ripping off customers at tourist traps in midtown Manhattan when he was a teenager—a very young teenager.” How could Crazy Eddie offer such low prices? Originally by collecting sales tax but not paying it. And if there was a pipe burst in one of his stores…every piece of unsellable merchandise would quickly be shipped there to be part of the insurance claim.
His personal life was no more upstanding. His own father is quoted as saying about his first wife “she should not be subjected to…the indignities of living with Eddie Antar.”
This is a story of greed and sleaze. It’s about a guy, in fact a bunch of guys, for whom any behavior was justifiable if it meant making money, big chunks of it. He was, in the words of one U.S. attorney, “the Darth Vader of capitalism.” Antar was far from the last of that ilk. There’s the Enron guys, Martin Shkreli and most recently Elizabeth Holmes. Sometimes there’s a fine line between the American Dream and outright thievery.
Weiss goes into great detail about how Crazy Eddie the company came into being and how, once it became public, the real fraud was set into motion. The story is exhaustively researched. I found the most interesting part of the book to be the second half as the law, in the form of the SEC, the FBI and various federal prosecutors put their case together while Antar used a combination of bullshit and flight to try to keep himself out of jail. I don’t think I’m spoiling the story by saying that didn’t work.
March 8, 2024
Everybody knew Crazy Eddie's in the late 1970s and mid-1980s. The loud voice of Jerry Carroll screaming about the "insane" prices for electronic equipment were everywhere. Many were drawn in to buy. I was put off. It was either/or. No in-between with Crazy Eddie.
Turned out that Eddie (Antar) was not crazy. He was maniacal grifter. Like many grifters, he enjoyed enormous success and convinced many people of his business acumen, only to be found out and have his empire crumble.
Gary Weiss tells the story of the rise and fall of Crazy Eddy with humor, though there was not much to laugh about for those who lost so much money. What stands out about the story is that a man with limited formal education could engage is so much sophisticated fraud for such a long period of time, fooling so many people. Another part of the story is the power of a family culture that built a bubble of mutual trust and interdependence without any moral clarity.
Fascinating story.
Turned out that Eddie (Antar) was not crazy. He was maniacal grifter. Like many grifters, he enjoyed enormous success and convinced many people of his business acumen, only to be found out and have his empire crumble.
Gary Weiss tells the story of the rise and fall of Crazy Eddy with humor, though there was not much to laugh about for those who lost so much money. What stands out about the story is that a man with limited formal education could engage is so much sophisticated fraud for such a long period of time, fooling so many people. Another part of the story is the power of a family culture that built a bubble of mutual trust and interdependence without any moral clarity.
Fascinating story.
September 11, 2023
I only have faint memories of Crazy Eddie, but he's definitely still a trope. His story is undeniably interesting, and this covers everything from his birth to death with particular emphasis on the discovery of fraud after his business goes public. I would have liked more focus on the early days of running his retail business (the sales strategies and grifts), as they were the most interesting to me. The 80's were an interesting time, with everyone discovering they could get away with white collar crimes. I did enjoy the book for its content, but the writing wasn't my favorite; it was a bit too long and I found that the author went on too many tangents about unimportant characters. If you don't want to read a full book on Crazy Eddie, definitely check out the wikipedia page for his colorful history. Just ask a boomer if they remember crazy eddie, and they will tell you stories.
December 17, 2023
This is a well researched, thorough yet fast paced read on the all the white collar crimes that led to the rise and ultimate demise of the discount electronics store franchise in New York- Crazy Eddie!
As an investment professional, it is quite enlightening to know and understand the intricacies of how accounts can be manipulated. Weiss does a fantastic job of it while still maintaining the pace and not getting bogged down by any financial jargon.
With a fair bit of nostalgia around New York in the 70s/ 80s in there, this book also provided a window into how the city functioned back then. That added to the entertainment quotient of the book for me as I have lived the same places talked about in the book at a much later date; a decade ago.
A fun one time read for anyone who enjoys some fast paced white collar/ nekhdi stories!
As an investment professional, it is quite enlightening to know and understand the intricacies of how accounts can be manipulated. Weiss does a fantastic job of it while still maintaining the pace and not getting bogged down by any financial jargon.
With a fair bit of nostalgia around New York in the 70s/ 80s in there, this book also provided a window into how the city functioned back then. That added to the entertainment quotient of the book for me as I have lived the same places talked about in the book at a much later date; a decade ago.
A fun one time read for anyone who enjoys some fast paced white collar/ nekhdi stories!
July 24, 2023
Excellent page turner about the crimes that undid my first retail alma mater, Crazy Eddie (I worked in the Village store in 1979). Weiss does a great job chronicling the development of the store, its obnoxious ads, the company's switch and bait sales culture, and the fascinating crimes of the Antar family that ran it --especially "Crazy" Eddie. The author has a lot of fun with Eddie's sleaze towards his employees, his customers, and his family. Eventually, the book turns into an exceptionally well reported crime caper. I enjoyed the whole thing. (but I gotta say...the "c-line" at Crazy Eddie was the friends and family price, not standard price....and the author was thinking of Orange Julius, not Gray's Papaya.)
August 13, 2024
My interest level picked up once the SEC started investigating and the fraud balloon popped. Before that, I found myself skimming (heh) quite a bit as the ancillary details piled up. Like that guy who started out as a store clerk and ended up as CFO. Learning about his father’s characteristics was probably a bit too much. Even after the legal process started, I came away with the impression “too many trees, not enough forest”.
I laughed out loud at the part where Eddie has a wife, Debbie, and a mistress, also Debbie, and so everyone including the author for the entirety of the book refers to “Debbie 1” and “Debbie 2”.
I laughed out loud at the part where Eddie has a wife, Debbie, and a mistress, also Debbie, and so everyone including the author for the entirety of the book refers to “Debbie 1” and “Debbie 2”.
August 12, 2024
immensely entertaining story of the rise and fall of a legendary business
I’m not bragging when I say that my interest and skill in finances are very close to zero. Heck, my wife does our taxes and balances are checkbook. I’m an engineer, but when it comes to financial matters, I’m Forrest Gump. So I was surprised at how easily I was able to follow, this incredible story and that’s due to the terrific writing of Mr. Weiss. Parts of the story are extraordinarily complex, but he made the basics accessible even to a Forrest Gump like me.
I’m not bragging when I say that my interest and skill in finances are very close to zero. Heck, my wife does our taxes and balances are checkbook. I’m an engineer, but when it comes to financial matters, I’m Forrest Gump. So I was surprised at how easily I was able to follow, this incredible story and that’s due to the terrific writing of Mr. Weiss. Parts of the story are extraordinarily complex, but he made the basics accessible even to a Forrest Gump like me.
April 16, 2022
A well researched and very informative book regarding the Crazy Eddie Stores fraud. The author does an amazing job of really explaining the details in layman's terms and does so without making it boring. You not only get to know about the scandal but the family and the complexity of it all. This is truly a very good and informative book. Thanks to Netgalley, the author and publishers for an ARC in exchange for my honest opinion.
June 21, 2023
If you grew up in New York in the 1980s, the commercials are seared into your brain. "Crazy Eddie - his prices are INSANE!" And you might remember how it went bust and turned out to be a fraud.
But there's a lot more than that. Eddie Antar's rise was meteoric and his collapse just as fast. It's a great story and Weiss does a terrific job telling it. Eddie's nephew and accountant, Sammy, is a large source, so Weiss is able to tell it from the inside.
But there's a lot more than that. Eddie Antar's rise was meteoric and his collapse just as fast. It's a great story and Weiss does a terrific job telling it. Eddie's nephew and accountant, Sammy, is a large source, so Weiss is able to tell it from the inside.
April 5, 2024
Usually non fiction is a bit of a slog for me, but Weiss made this easily digestible and a fun ride the whole way through. This was partially done through coarse humor, and partially through exceptional pacing. What details he chose to include and chose to leave out were very deliberate and while this was a financial fraud, he made it very accessible for those of us not mathematically inclined. Definitely recommend.
August 14, 2023
I remember it well
Who can forget those awful Crazy Eddie ads on TV and radio? It was interesting to learn about Eddie Antar and all the sleazy business practices he and his business partners engaged in. The stench of it is almost overwhelming. Like most criminals and sociopaths they usually hang themselves with their own rope. Thank the Firmament for that.
Who can forget those awful Crazy Eddie ads on TV and radio? It was interesting to learn about Eddie Antar and all the sleazy business practices he and his business partners engaged in. The stench of it is almost overwhelming. Like most criminals and sociopaths they usually hang themselves with their own rope. Thank the Firmament for that.
December 28, 2023
A very solid 4 stars. I had to put it down often for reasons unrelated to the book, but as far as true crime stories that aren't about murder go, this was excellent. I was young when the last Crazy Eddie commercials were on the air, but even at that young an age, they definitely still last in my mind.
July 10, 2023
Tells the Story of Crazy Eddie electronics stores popular in the late 1970's early 1980's, and how its founder manipulated inventory, sales, returns and performed all kinds of scams in order to IPO and boost the price of his stock.
November 7, 2023
When I become a retail mob boss doing wildly illegal stuff, I'll consult the life of "Crazy" Eddie Antar again. Simply incredible how much a publicly traded company got away with in the 70s. Only 3/5 because to rate higher might give the wrong impressions... Fun read
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