Sam A Antar Running A Pre IPO Ponzi Scheme New York New York
Sam Antar (Crazy Eddie Antars Nephew) already convicted of a past crime claimed to be buying pre ipo shares of f Lyft and Slack for various prices, claiming to provide people who needed cash/liquidity before these companies went public and then sell the shares at a higher price for a profit. In doing this per his request people provided him with several wires that added up to around $400,000 to date. We have signed agreements and volumes of emails.
Each time he told us he would wire our money for a profit. He provided with one wire to show a return in order to attract us in giving him more for higher returns. We come to find out he has been running a pre ipo ponzi scheme as there are at least 4 of us who are current victims and there may be many more we do not know about . In actuality Sam Antar never bought and sold the pre ipo shares but was using several peoples money to show the initial return and lure people into his scheme.
In other words he kept finding more victimes to fund these fake returns. To date all of us have yet to receive our money as he kept coming up with excuses. He also worked for AEON Family of Funds so that is why he seemed believable. We come to find out he has not worked for Aeon for a number of months and modified emails.
He has taken 180k from one victim, 150k from another, 50k from another and finally around 40k from another. This is to protect the public and alert law enforcement as I believe he has committed securities Fraud, Wire Fraud and he even sent several of us large Checks which bounced so we can add check fraud into the mix. Its also to let others know who have may have been scammed by Antar to reach out to law enforcement immediately
1 Updates & Rebuttals
David
new york,New York,
United States
'Crazy Eddie' nephew accused of cheating investors of $800K, gambling their money
#2Author of original report
Wed, December 18, 2019
The nephew of "Crazy" Eddie Antar was charged with theft on Tuesday for allegedly stealing nearly $800,000 from investors in New Jersey and New York and using much of the money to gamble.
Sam A. Antar (Photo: Courtesy New Jersey Attorney General's Office)
Sam A. Antar, 44, of New York, also was named in a civil complaint filed by the U.S. Securities and Exchange Commission, authorities said.
Antar's victims trusted him to invest their money as promised, said Veronica Allende, director of the New Jersey Division of Criminal Justice. "Instead he allegedly used their money for gambling or spent it on himself and his family."
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Sam A. Antar has ties to the Jersey Shore. His uncle, Eddie Antar, who had a home in Ocean Township, co-founded Crazy Eddie, an electronics chain that was perhaps best known for its off-the-wall commercials promising "insane" prices.
Eddie Antar eventually pleaded guilty to falsifying information about the company's financial health to inflate its stock price. He spent seven years in prison and died in 2016. Watch the video at the top of this story to learn more about his passing, and make sure you don't miss any of our news by buying a digital subscription to APP.com and downloading our mobile app today.
Sam A. Antar, who also lived in Ocean Township, tried to bring back the chain in 1998 at the age of 22, the Asbury Park Press wrote in a story headlined: "Are these guys crazy?"
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Undated: A packed Crazy Eddie store in Wayne celebrates its grand opening with sales and giveaways. (Photo: Jennifer Brown/NorthJersey.com)
New Jersey authorities on Tuesday said Sam A. Antar was charged with second-degree theft by deception and second-degree securities fraud.
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They said he was furloughed from a marketing job with a New Jersey investment firm when he began soliciting investors by promising to buy shares of emerging companies whose stocks had not yet begun trading publicly.
"Crazy" Eddie Antar in a Jan. 11, 1993 file photo. (Photo: AP FILE PHOTO)
Antar told clients he would quickly resell, or flip, the shares to generate profits. But he never invested the money, using it instead for gambling and personal spending, authorities said.
Antar's attorney, Joseph Giaramita, couldn't be reached for comment.