ZZZZ Best - Definition

Barry Jay Minkow is a former businessman, pastor and convicted felon. While still in high school, he founded ZZZZ 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.

At the age of 16 while still in high school Minkow started ZZZZ Best in his parents' garage with the help of an investor who specialized in usurious Loans to businesses. He soon branched out into "insurance restoration" services as well as home carpet cleaning. Minkow and ZZZZ Best are mentioned in Burton G. Malkiel's work A Random Walk Down Wall Street as an example of stock market bubbles. Today he is senior pastor of the Community Bible Church in San Diego, California, having renounced his felonious acts. Minkow is recognized as an expert on fraud, and speaks on the subject to university students and the business community in an effort to prevent fraud.



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