Zzzz Best Carpet

Zzzz best founded by barry minkow was a carpet cleaning and restoration company that served as a front for a ponzi scheme.

Zzzz best carpet.

The company went public in december 1986 and was quickly valued at over. Whiz kid entrepreneur barry j. His company made an escalating growth to 1400 employees in just four years. By the time the scam fully unraveled investors had lost over 100 million.

The company initially struggled for survival. The next day zzzz best stock lost 28 percent of its value. In december 1988 mr. Barry started his carpet cleaning business called zzzz best at the early age of 15 in his parent s garage.

While still in high school he founded zzzz best pronounced zee best which appeared to be an immensely successful carpet cleaning and restoration company. Zzzz best was a carpet cleaning company set up in inglewood california in 1982 by the then 16 year old barry minkow while he was still in school. However it was actually a front to attract investment for a massive ponzi scheme it collapsed in 1987 costing investors and lenders. Barry minkow who as a teen built a fortune out of his zzzz best carpet cleaning business in reseda before it collapsed as a fraud was sentenced to five years in prison for embezzling 3 million.

Barry jay minkow born march 22 1966 is a former american businessman pastor and convicted felon. His company became the national sensation and was valued to be around 280 million that time. Barry was the founder and ceo of zzzz best pronounced zee best which started out as a legitimate carpet cleaning company in southern southern california. It quickly turned into a house of cards built upon a foundation of fake customers fake projects and fake supporting documents.

Minkow was convicted on 57 counts of.