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Is BIDZ Inventory Accounting Compliant With GAAP?

March 16, 2008
by Eric Savitz
Blogger and Columnist, Barron's

Eric Savitz

The Bidz.com saga has taken on a new twist today.

Sam Antar, the former CFO of Crazy Eddie, has posted a detailed analysis of the inventory accounting policies reported by Bidz.com–and contends the company is not compliant with GAAP.

Antar describes himself on his blog as “a convicted felon who helped mastermind one of the largest securities frauds uncovered in the 1980s”–his cousin is Crazy Eddie namesake Eddie Antar. He’s transformed himself into a crusader against corporate malfeasance; his blog is called White Collar Fraud.

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