Sample Essay

The Antar family was involved in fraudulent and criminal activities since its inception which involved tax evasion through understatement of net income. The Antar family was also involved in skimming cash during different periods of time. This cash was taken from the sales of different stores and deposited in offshore accounts initially in Israel. The Antar family members took $1 for every $5 Crazy Eddie made during a period. The estimated amount of total cash taken away illegitimately by the family was around $3 to $4 million per year.

Eddie paid salaries to several employees off the books to manipulate the wages and salaries expense on the income statement. Tax evasion was the main objective behind this manipulation of cash, net income, salaries and other amounts for the first ten years of business during 1969 to 1979. In 1971 Eddie also recruited his nephew Sam E. Antar as a stock boy who was involved in cash skimming and overstatement of insurance loss claims since the start. Sam was to play a big role in major fraudulent activities in the company and Eddie sponsored his education in accounting knowing that the accounting knowledge would considerably help the family in applying more creative ideas for fraud.

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