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Odd Lots

Behind the Scenes of Financial Fraud

Odd Lots

Bloomberg

News, Investing, Business, News Commentary, Business News

4.41.6K Ratings

🗓️ 20 May 2019

⏱️ 36 minutes

🧾️ Download transcript

Summary

If you lived in NYC a few decades ago, you probably have heard of Crazy Eddie, an electronics retailer that was famous for its outlandish ads on TV. What most people didn't know until after it went public, is that the company was built on financial fraud. In this week's episode of the Odd Lots podcast, we speak with its former CFO Sam Antar about the company's shenanigans, and how it all came undone.

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Transcript

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0:00.0

Do you love Elon Musk? Do you hate Elon Musk? Do you have no idea what to think about Elon Musk?

0:09.0

Then we have just a show for you. He's become even more larger than life.

0:14.4

Buying Twitter doesn't get us closer to Mars. They are like really close to the edge of like

0:18.8

everything falling apart. Like oh Elon I, put a chip in my brain.

0:23.0

Each week on this podcast will break down, analyze, and debate the most important stories on Musk and his empire.

0:30.0

It's all one big universe. You just work for Elon Inc. From Bloomberg Business Week, this is Elon Inc.

0:37.0

listen wherever you get your podcasts. Hello and welcome'm Tracy Allaway.

0:56.0

Hello and welcome to another episode of the Odd Lots Podcast. I'm Joe Weisenthall.

0:58.0

And I'm Tracy Allaway.

1:00.0

Tracy, remember when we were going to do that series all about accounting?

1:05.0

Yes, I still hold hopes that we will one day do that.

1:09.0

Why?

1:10.0

No, no, I mean I do, I think it's a really interesting topic and I do think that at some point we should do a series but I don't know when it's going to happen.

1:20.0

Okay, that's fair. Are we doing accounting today?

1:23.0

Yes, we are. So today we are doing an accounting episode. It's not part of a series, but it should be, it would have been a really good part of a series.

1:31.0

It should be a really good one, because obviously one of the most interesting aspects of

1:36.2

accounting is forensic accounting spotting fraud, deceit how you could look at a

1:41.9

balance sheet and an income statement a cash flow statement

1:45.2

and find things that are unusual. In fact I think we one of our accounting

1:50.0

episodes or maybe the one we did was with a professor who specialized in spotting that stuff.

1:55.8

Yeah I remember that one and Joe you must know this I love forensic accounting so much that it's been in my

2:02.0

Twitter bio I think for as long as I have had that

...

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