Barry Minkow, American pastor and businessman
Barry Jay Minkow (born March 22, 1966) is a former American businessman, pastor, and convicted felon. While still in high school, he founded ZZZZ Best (pronounced "Zee Best"), which appeared to be an immensely successful carpet-cleaning and restoration company. However, it was actually a front to attract investment for a massive Ponzi scheme. It collapsed in 1987, costing investors and lenders $100 million: one of the largest investment frauds ever perpetrated by a single person, as well as one of the largest accounting frauds in history. The scheme is often used as a case study of accounting fraud.
After being released from jail, Minkow became a pastor and fraud investigator in San Diego, and spoke at schools about ethics. This all came to an end in 2011, when he admitted to helping deliberately drive down the stock price of homebuilder Lennar and was ordered back to prison for five years. Three years later he admitted to defrauding his own church and was sentenced to an additional five years in prison. He is subject to restitution requirements totaling $612 million.
1967Mar, 17
Barry Minkow
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Events on 1967
- 15Jan
Green Bay Packers
The first Super Bowl is played in Los Angeles. The Green Bay Packers defeat the Kansas City Chiefs 35-10. - 28Apr
Muhammad Ali
Vietnam War: Boxer Muhammad Ali refuses his induction into the United States Army and is subsequently stripped of his championship and license. - 30May
Nigerian Civil War
The Nigerian Eastern Region declares independence as the Republic of Biafra, sparking a civil war. - 7Jun
Jerusalem
Six-Day War: Israeli soldiers enter Jerusalem. - 2Nov
Lyndon B. Johnson
Vietnam War: US President Lyndon B. Johnson and "The Wise Men" conclude that the American people should be given more optimistic reports on the progress of the war.