Home Stock Picks Stock Chat Market Watch Stock Blog Learn to Trade Stock Newsletters HOT Stock Articles Forex Trading Stock Toolbar Stock Screener Buy Stocks  

ZZZZ Best

ZZZZ Best was a fraudulent company owned by Barry Minkow. ZZZZ Best went public in 1986 and reached more than $200 million in market capitalization through theft and forgery. During that time, ZZZZ Best was thought to be a real success story: from being a garage shop and carpet cleaner into a multi-million dollar empire in just six years. Minkow became a millionaire at 18, and earned acclaim for his investing prowess landing him on several magazines and even TV guestings. ZZZZ Best started to have problems when the Los Angeles Times ran a report alleging that the Minkow falsely charged more than $163,000 in credit card charges in 1984-1986. But Minkow was able to reason his way out of that. When he resigned, however, ZZZZ Best's new management sued him alleging that Minkow had embezzled $3 million from company coffers and diverted another $18 million into a firm owned by a friend. Los Angeles police later revealed that ZZZZ Best was under investigation for drug-profit laundering. Shares of ZZZZ Best drastically plunged to $1 from the $18 level it was in before everything came to light. Minkow was eventually convicted to 25 years in prison.

Related Terms

Pyramid Scheme























































FREE Stock Newsletter
© 2009 TheHotPennyStocks.com :: Penny Stocks