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It sounds to me like the Crazy Eddie scam from the late eighties. While securing financing from Wall Street, Crazy Eddie took the bankers on tours of its variou
by CodeWriter23 9y ago
It sounds to me like the Crazy Eddie scam from the late eighties. While securing financing from Wall Street, Crazy Eddie took the bankers on tours of its various warehouses in New York. And had workers populate the next warehouse to be visited with inventory from one of the already visited locations, making their inventory physically apppear to be 2-3x as large as it was in reality. Enough to make the valuation lies told by their books look true.
- fjsolwmv 9y agoThat was only a small fraction of Crazy Eddie's fraud schemes. https://en.m.wikipedia.org/wiki/Crazy_Eddie https://en.m.wikipedia.org/wiki/Crazy_Eddie
- rjeli 9y agocan’t mention Crazy Eddie without linking whitecollarfraud: https://whitecollarfraud.com/crazy-eddie/ https://whitecollarfraud.com/crazy-eddie/
- PrgsvThgt 9y agoI lived in NYC when Crazy Eddie was big. Never realized he ran such a scam. Thanks for the post. LOL