OTHER NEWS - Aug. 26, 1992
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Extradition Proceedings Are Set for Crazy Eddie: Israel has allowed extradition proceedings to begin against Eddie Antar, who fled the United States after the collapse of his Crazy Eddie retail electronics chain. Antar will appear before a court in Jerusalem to determine whether he can be returned to the United States to face racketeering and fraud charges. U.S. prosecutors say Antar and several relatives fleeced investors in public offerings by inflating the company’s market value through phony inventory and sales reports. The company collapsed in 1987, leaving investors with tens of millions of dollars in losses. Antar fled in 1990 with $50 million looted from the company, prosecutors charged. He was arrested in Israel recently.
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