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Barry Minkow Bio |
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Detailed Biography of Barry Minkow
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Minkow learned his business manners in his mother's job as a telemarketer. At the age of 15 he started his own carpet cleaning company, ZZZZ Best, in his parent's garage in Roseda, California. In four years it had 1400 employees and it begun to specialize in insurance restoration business. Minkow worked hard to form dozens of business contacts. His most important contact was Tom Padgett of Interstate Appraisal Services, an insurance claims adjuster who could get large restoration contracts. He was presented as a business success story in magazines and TV shows. Mayor of Los Angeles Tom Bradley declared a Barry Minkow Day. He lectured in business schools and contributed to Narcanon. He had a Ferrari Testarossa and a mansion in Woodland Hills. ZZZZ Best' stocks in Wall Street raised to $18 a share, for a total of more than $280 million. However, behind the scenes, his company was little else than a front to attract investment for a pyramid scheme. ZZZZ Best did not clean any carpets but generated a plausible paper trail to fool potential investors. Interstate Appraisal Services was formed to support this fraud. Minkow raised money by factoring his accounts receivable for work under contract. One of his first funds he had got from Genovese Mafia family. He hired reputable accountants and lawyers to boost his image. Later he claimed that he had intended to form a legitimate business empire and pay back everything, nobody being the wiser. He hoped to attract public stock offering that he would not have to pay back. ZZZZ Best went public in stock market in 1986. When accountants wanted to inspect ZZZZ Best's handiwork, he borrowed fake offices for a tour of Interstate Appraisal Services and used an incomplete building to present a fake restoration job. He used $2 million to complete the building in twenty days. He almost got away with it. Magazines and TV shows did not check his background Investigations of the Securities and Exchange Commission, the FBI and various individual investigators found nothing. Two separate accounting firms did not notice anything. ZZZZ Best was going to buy a rival carpet cleaning company KeyServe. But when ZZZZ Best's stock suddenly plunged due to unfavorable press reporting and FBI investigated Minkow's link to Genovese, he gave up in 1987. Court's approximation of the extent of fraud was $26 million.
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Contact a booking agent about hiring Barry Minkow |
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| Barry Minkow in the News |
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Great Call on Wachovia! What's Next?Motley Fool Jul 2, 2008 If you want to see why, just go to the Fraud Discovery Institute website and see the wonderful work of Barry Minkow on this one. Not everyone shares this ... |
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It's Barry Minkow vs. HerbalifeLos Angeles Times, CA Jun 4, 2008 You may remember Barry Minkow as the young San Fernando Valley entrepreneur who was convicted of defrauding investors of millions of dollars in his ZZZZ ... |
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Herbalife rebuffs lead allegationsCNNMoney.com Jun 9, 2008 The allegations were leveled last month by a group called the Fraud Discovery Institute, led by Barry Minkow, who started the group after serving a sentence ... |
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| More Barry Minkow News >> |
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Booking Agency-related Disclaimer: |
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Fees to hire a speaker or celebrity are determined based on a number of factors and may change without notice. Booking fees often vary based on a number of factors including: speakers schedule, supply and demand, length of presentation, location of event and other factors. Fee Ranges listed on this website are intended to serve only as a guideline. In some cases, the actual price quote may be above or below the stated range.
We do not keep individual speaker booking schedules, but if you contact an agent, we can find an appropriate speaker available for your event or provide dates when the speaker you want to hire is available. For the most current celebrity fees or to check availability, please contact a booking agent now.
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All American Speakers is a "buyers agent" and exclusively represents talent buyers looking to secure celebrities and speakers for personal appearances, speaking engagements, corporate entertainment, private events, public relations campaigns, promotions or commercials. We represent companies, non-profits, agencies and public relations firms seeking to hire top celebrity talent for appearances, branding campaigns, marketing, awareness campaigns, advertising, licensing, voice-overs and product endorsements. We help find the top celebrity talent, negotiate the engagement and handle the entire booking process from beginning to end.
Please Note:
All American Speakers Bureau acts only as an entertainment broker/producer for
corporate functions, private engagements and special events. All American Speakers Bureau
does not claim or represent itself as the exclusive booking agent or agency, business manager,
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All American Speakers Bureau Advantage.
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