Ep 70. The Prisoner of Wall Street

In American Greed season 7 episode 70, titled "The Prisoner of Wall Street," viewers are introduced to a man named Sam Antar. Antar is well-known for his involvement in what has been described as one of the largest and most complex financial frauds in modern history.

Antar was a key player in a series of schemes that involved his family's electronics business, Crazy Eddie, which was once one of the most successful consumer electronics retailers in the United States. Antar and his family members engaged in a variety of fraudulent activities, including lying to auditors and engaging in insider trading, in order to boost profits and keep the business afloat.

The episode begins by delving into Antar's background, exploring his upbringing and early experiences with financial fraud. We see how he learned to manipulate numbers and deceive others, and how these skills eventually landed him a job at Crazy Eddie.

From there, the episode provides a detailed exploration of the various frauds committed by Antar and his family members. We see how they created a web of false invoices and other documents in order to manipulate the company's financial statements, and how they engaged in insider trading to profit from their knowledge of the company's impending collapse. We also see how they lied to auditors and regulators in order to cover up their actions and avoid getting caught.

Throughout the episode, we hear from a variety of experts and insiders who provide insight into the fraud and its aftermath. We hear from former employees of Crazy Eddie who were caught up in the scheme, as well as from journalists and legal experts who covered the case. We also hear from Antar himself, who provides his own perspective on what happened and why he did what he did.

Ultimately, "The Prisoner of Wall Street" is a cautionary tale about greed, deception, and the high stakes of financial fraud. It shows how even successful and respected businesspeople can be lured into engaging in illegal activity when they become too focused on profits and success. It also highlights the importance of transparency and accountability in financial reporting, and the need for regulators to be vigilant in detecting and preventing fraud.