Barry Minkow is a former businessman best known as the founder of carpet cleaning company ZZZZ Best. It was once an immensely successful carpet cleaning and restoration. However, it was a front to attract investors for the Ponzi scheme.
From A Businessman To Pastor
Barry started his carpet cleaning business called "ZZZZ Best" at the early age of 15 in his parent’s garage. His company made an escalating growth to 1400 employees in just four years. His company became a national sensation and was valued to be around $280 million at that time. After three years, ZZZZ Best gave authority to private shareholders and the company’s stock worth $18 per share in 1986. During the prime time of his company, he also had Genovese mafia among his clientele.
The company also had a T-shirt printed ZZZZ BEST CARPET CLEANING & FURNITURE sold on a global online platform, Redbubble, for $19.90 per piece.
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But his company collapsed in 1987 after being accused of a Ponzi scheme. The American businessman was sentenced to 25 years but served only seven years.
During his period in prison, he turned his religion to Christianity and joined the Christian ministry. He soon became the pastor at the Community Bible Church in San Diego. He gave his religious lectures to the University students and business community to prevent fraud.
Later in 2014, he was again proved cheating his own church for embezzling over $3 million from 2011 to 2011. So he was jailed for another five years. On 16 March 2011, he resigned from his post of pastor of his church.
The mastermind fraudster, Barry, turned to a white fraud buster after he got out of jail. He targeted the Herbalife nutritional company known for weight loss. Reportedly he received $300,000 from the company to shut his mouth. He was later involved in manipulating the shares of Lennar Corp illegally. He pled guilty but was sentenced to five years in jail.
Besides this, Barry has also published many books, including Clean Sweep, priced at $55.88 at Amazon.com. His other publications are Cleaning Up (2005) and Down, but Not Out: 10 Steps for Rebuilding Your Life, Your Career, And All That Other Stuff (2007).
How Much Is Barry Minkow’s Net Worth?
Barry Minkow has been penalized three times for criminal charges that include securities fraud, money laundering, tax evasion, bank fraud, mail fraud, and more. And for all these, he has spent more than 15 years in federal prison.
Along with that, he has to pay a total of $612 million in restitution for the rest of his life which has negatively affected his net worth.
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Married To Wife; Has Adopted Sons
Barry is married to his beautiful wife, Lisa. The couple has adopted two Guatemalan twin sons Dylan Gene Minkow and Robert Irwin Minkow.
The former pastor, Barry, lives with his family in rural Crossville, Tennessee. They even had two Siberian Huskies and an Australian shepherd named Macho.
Barry Minkow poses with his wife Lisa (Photo: Gettyimages.com)
Besides this, details about his wife, children, and married life remain confined.
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Barry Minkow was born on 17 March 1966 in Reseda, California, with the birth name Barry Jay Minkow. He was raised in San Fernando Valley by a Jewish family. He holds an American nationality and belongs to white ethnicity.