Crazy Eddie was the U.S. retailer at the center of the 1980s fraud scandal involving its owners and executives.
The New York and New Jersey electronics chain became famous for its energetic advertising and the slogan “Crazy Eddie—his prices are insane!” Behind the public image, investigators uncovered inventory inflation, skimming of cash sales, and other accounting fraud.
Founder Eddie Antar fled the United States in 1987 but was later captured, extradited, and convicted. He received a prison sentence, and the chain eventually collapsed after the scandal and takeover battles.
The case is sometimes remembered only as a colorful retail story. In fact, it involved organized financial manipulation and became a prominent example of how inflated inventory could make a retailer appear more profitable.