OTHER NEWS - Feb. 4, 1994

British Court Rules Against Antar: The court ordered the convicted founder of the Crazy Eddie electronics chain to turn over $1.2 million in a London bank account to U.S. regulators, the Securities and Exchange Commission said. The judgment is the first granted to the SEC by a foreign court. In a four-year search, the SEC and a court-appointed trustee have identified more than $60 million that Eddie Antar hid in banks around the world. Of that, only $1.3 million has been returned to the United States. The $1.2 million in an account at the Royal Bank of Scotland in London remains there pending Antar’s appeal, said Richard Ross, a lawyer at the New Jersey law firm appointed to seek out Antar’s assets. Most of the money would go to investors in Crazy Eddie Inc., which failed in 1989 amid charges of stock manipulation.