Get All Access for $5/mo

11 Insaaaane Things You Didn't Know About the Founder of Crazy Eddie Eddie Antar died this weekend at age 68.

By Jason Fell

Opinions expressed by Entrepreneur contributors are their own.

Sven Nackstrand/AFP | Getty Images
Eddie Antar (R) once known as Crazy Eddie

Eddie Antar was an entrepreneur who realized the highs of business success as well as the lows of fraud and running from authorities. You might not recognize his name, but if you were alive in the late 1970s and 1980s, you'd be hard pressed not to know his business: he was the founder of the Crazy Eddie discount electronics store chain.

From his quirky TV and radio commercials, how could you forget that his prices were totally "inasaaaaaane!"

Antar died on Saturday. He was 68.

Born in 1947, Antar opened his first Crazy Eddie electronics store when he was in his early 20s, in Brooklyn, N.Y. With the help of his popular commercials – which aired for nearly 15 years and starred radio personality Jerry Carroll – the business grew into a small empire of stores up and down the East Coast. VCRs, video games and camcorders (remember those?) were hot sellers at the time.

But Antar's "success" wouldn't last forever. Here's a quick look at 11 moments during his rise and fascinatingly bizarre fall:

  1. Antar opened his first Crazy Eddie electronics store in 1969 on Kings Highway in Brooklyn.
  2. The term "crazy" came from Antar's wild sales style. Apparently, he'd accept customers' shoes as deposits on items like TVs or stereos.
  3. His first commercial aired in 1975. Each one ended with the phrase, "'Crazy Eddie, his prices are insaaaaaane!'' He continued to open new locations in the New York metro area.
  4. Riding the brand's popularity (those ads were memorable), Antar took the company public in 1984.
  5. At its height, the company had more than 40 locations from Boston to Philadelphia, and was generating as much as $350 million in revenue a year.
  6. By 1987, stockholders discovered that $45 million in merchandise was missing. His business and accounting practices were called into question and the stockholders staged a takeover of the company. After all, how could he have such insanely low prices?
  7. Federal prosecutors eventually charged Antar and his family of skimming cash and manipulating the company's stock.
  8. In 1989, Crazy Eddie filed for bankruptcy and its final store closed.
  9. The following year, Antar fled the country and was later found living in Israel. He was extradited and served seven years in U.S. prison.
  10. Antar's cousin, Sam, who was the company's CFO, pleaded guilty to fraud and later served as a consultant to governmental agencies that were investigating accounting fraud.
  11. In 2001, a newly freed Antar attempted to bring Crazy Eddie's back, selling electronics online. Despite the cheesy ads, there wasn't enough steam in the brand for a second go and the company failed.
Jason Fell

VP, Native Content

Jason Fell is the VP of Native Content, managing the Entrepreneur Partner Studio, which creates dynamic and compelling content for our partners. He previously served as Entrepreneur.com's managing editor and as the technology editor prior to that.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

Is One Company to Blame for Soaring Rental Prices in the U.S.?

The FBI recently raided a major corporate landlord while investigating a rent price-fixing scheme. Here's what we know.

Side Hustle

This Former Starbucks Employee Started a Side Hustle That's Making More Than $70,000 a Month — and He's Not Done Yet

When Tom Saar moved to New York City, he spotted a lucrative business opportunity.

Business News

Amazon Has a Blank Book Problem: Buyers Report Receiving Fakes of Bestselling UFO Book

The book looked fine on the outside, but the inside was out-of-this-world.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Paramount Leadership Alludes to Layoffs If Merger Does Not Go Through

Paramount is awaiting approval on its merger with Skydance Media from majority shareholder Shari Redstone.

Business News

Microsoft Reportedly Lays Off Over 1,500 Employees in Cloud Sector as Partnership with OpenAI Strengthens

Alphabet also reportedly laid off employees from several teams in Google's cloud unit last week.