EX-CON ARTIST TAKES TO AIRWAVES WITH ADVICE ON AVOIDING FRAUD.
Byline: Daniel Taub Daily News Staff Writer
A year ago, former carpet-cleaning con artist Barry Minkow Barry Minkow (born March 17 1967) is an American religious leader and ex-convict.
As a young teenager Minkow was a fraudulent entrepreneur who managed to present the front of a successful businessman for a number of years during the 1980s. was sitting in an Echo Park halfway house halfway house /half·way house/ (haf´wa hous) a residence for patients (e.g., mental patients, drug addicts, alcoholics) who do not require hospitalization but who need an intermediate degree of care until they can return to the community. after serving more than seven years in prison for fraud.
Monday morning, he was sitting in a radio station studio overlooking the food court of the Fallbrook Mall, giving advice to Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. radio listeners on detecting consumer fraud and avoiding mistakes in running a small business.
Minkow, 30, said his show, ``Fraud Biz,'' which had its first airing Monday morning, is intended to teach people how not to run a small business.
``I have no business telling people how to run a business,'' said Minkow in an interview after the show. ``We're trying to help the small-business person not make the same mistakes I've made.''
The irony that the debut of a show on avoiding fraud - hosted by a former con artist - fell on April 1 was not lost on Minkow.
``It is April Fools' Day April Fools' Day
or All Fools' Day
First day of April, named for the custom of playing practical jokes on that date. Though it has been observed for centuries in several countries, including France and Britain, its origin is unknown. , but this is no joke,'' Minkow told his KWNK-AM (670) audience.
Minkow was convicted in 1988 of 57 counts of fraud in connection to his ZZZZ Best ZZZZ Best
A company owned by Barry Minkow in the 1980s. Through such means as forgery and theft, Minkow appeared to be building a multimillion dollar corporation. ZZZZ Best went public in December of 1986, eventually reaching a market capitalization of over $200 million (U.S. carpet cleaning business, which he started in his parents' Reseda garage at age 16. He spent more than seven years in prison before being released in April 1995.
Since his release, Minkow has published a book on the ZZZZ Best fiasco, ``Clean Sweep clean sweep n to make a clean sweep (SPORT) → arrasar, barrer
clean sweep n to make a clean sweep (Sport) → rafler tous les prix ,'' and has given seminars on fraud detection for agencies such as the FBI, with most of the profits going to repay his victims.
Minkow said he is not yet earning money for the radio show, but that if and when he does, the profits will go into a trust fund for his victims.
On Monday's show, Minkow and his guest - Christopher Byron, a financial reporter who wrote about the ZZZZ Best case - answered questions on too-good-to-be-true mail-order offers, fraudulent The description of a willful act commenced with the Specific Intent to deceive or cheat, in order to cause some financial detriment to another and to engender personal financial gain. gold investments and dishonest accountants.
One caller, an accountant, asked Minkow about the adversarial ad·ver·sar·i·al
Relating to or characteristic of an adversary; involving antagonistic elements: "the chasm between management and labor in this country, an often needlessly adversarial . . . relationships accountants often have with their clients over disclosure of financial information.
``I say this: Go to lunch with your clients, love your clients, appreciate their business. But when you put on that jacket and you step into that company, you're all business,'' Minkow answered him. ``If you're afraid to ask the tough question, then I think you've lost your objectivity.''
KWNK's general manager, Bill Cabranes, said he was not immediately anxious to bring Minkow's show to the station, which aside from ``Fraud Biz'' is all-sports.
``They came to us, and we were not really interested in doing it, I must admit,'' Cabranes said. He said he had met Minkow when he was a teen-age entrepreneur, and disliked him at the time.
``My impression of him was that he was an obnoxious, smart-ass kid who was looking for Looking for
In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. trouble,'' Cabranes said.
But after meeting with Minkow about two months ago, Cabranes said he was convinced that the prison time had turned Minkow around. ``I liked what he had to say,'' Cabranes said.
PHOTO Barry Minkow makes his AM radio debut Monday with ``F raud Biz.''
Phil McCarten/Daily News