Eddie Antar, owner of Crazy Eddie retail chain, dead at 68

Eddie Antar, the Brooklyn-born businessman who helped turn the Crazy Eddie electronics stores into a retail giant before it collapsed amid federal fraud charges, died September 10. And his fall from grace was spectacular.

Funeral services for Antar, an Ocean Township resident who would also spend seven years in prison for racketeering and stock fraud, are to be held Monday in New Jersey. No cause was given. He eventually grew the chain to 43 stores spanning four states and was reportedly earning more than $300 million.

Eddie Antar, known for his commercial’s tagline “Crazy Eddie’s prices are insane!” founded the company with two other family members in Brooklyn in the early 1970s. And it’s over-the-top late night pitches were even parodied by Dan Aykroyd on Saturday Night Live. ‘Oh you’re Eddie Antar?

The Crazy Eddie chain went public with a stock offering in 1984.

Emil Gerring, the Paramus store’s landlord, said that Antar and his cousin Sam were the first in the area to do what they did and, “people loved it”.

Mr. Antar fled to Israel in 1990 after being indicted on securities fraud and insider trading charges. But in 1993, he was extradited to the USA, and eventually served a 7-year prison term.