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Blog Post Index - Chronological (Latest to Oldest)


2015

03/30/15: Overstock.com Hatchet Man Judd Bagley's Downward Spiral: Junkie, Confessed Criminal, Admitted Adulterer

2014

09/08/14: Nu Skin Inventory Red Flags Remain Even After $50 Million Impairment Charge


08/04/14: Why Nu Skin Must Come Clean on Troubling Inventory Red Flags

07/22/14: Do Nu Skin Inventory Red Flags Spell Trouble Ahead?

07/16/14: Indicted Former Utah Attorney General Mark Shurtleff was bribed by Overstock.com too

07/08/14: A Felon’s View of White-Collar Crime - Why Society is Very Vulnerable to Fraud

05/29/14: Overstock.com CEO Patrick Byrne Spying on People--Again

05/19/14: On Twitter, Herbalife Uses "Herbalife Truth" To Tell A Lie

01/04/14: California Judge Rules Slaps Overstock.com With a $6.8 Million Fine For Defrauding Consumers

2013

11/23/13: Did Tesla violate S.E.C. rules by failing to disclose the retirement of George Blankenship?

10/28/13: Is Overstock.com Trying to Cook The Books, Again?

10/03/13: Is Medifast a Cry Baby or a Corporate Bully?

09/30/13: Was Medifast transparent with investors about an S.E.C. investigation?

08/27/13: Simple questions for Donald J. Trump

01/29/13: Overstock.com CEO Patrick Byrne Sleeps With a Gun

01/22/13: Patrick Byrne: Armed, Dangerous, and Delusional

2012

12/28/12: What Indicted SAC Capital Portfolio Manager Mathew Martoma Can Learn from Crazy Eddie

11/13/12: Judge Orders Overstock.com to Produce Evidence in California Consumer Fraud Lawsuit, While Major Investor Unloads Shares

09/27/12: Green Mountain Coffee Roasters’ Growing Inventory Levels: Is It a Fumble or a Fraud?

09/10/12: New Lawsuit Against ZAGG Alleges It Concealed Stock Pledges

09/10/12: Real Estate Investor Who Fled Country Now Seeks to Raise $1 Billion in IPO

08/28/12: ZAGG Conference Call Raises More Questions than Answers about Pedersen's Resignation

08/20/12: ZAGG CEO Sold Stock Three Days before His Resignation

07/24/12: Can Green Mountain Coffee Roasters Explain Those Missing Beans?

07/12/12: Green Mountain Coffee’s Numbers Submitted to S.E.C. Examiners Don’t Add Up

05/21/12: Are they really that stupid at Green Mountain Coffee Roasters?

05/03/12: Green Mountain Coffee Roasters: Is it toxic or is it phantom inventory?

05/01/12: Is Green Mountain Coffee's Inventory Approaching Toxic Levels?

04/24/12: Is Green Mountain Coffee's Inventory a Toxic Brew?

04/09/12: Green Mountain Coffee Roasters Disclosure Controls: Have They Really Improved?

03/28/12: New Allegations of Fraud Against Green Mountain Coffee Roasters in Amended Class Action Complaint

03/05/12: Is Overstock.com in a Death Spiral?

02/22/12: Overstock.com Was Ineligible to File a Registration Statement Last December

02/21/12: How Overstock.com Violated S.E.C Rules on Timely Disclosures and Delayed Reporting a Default on Bank Loan

02/06/12: Francis Chou's Funds Taking a Bath on Overstock.com Common Stock

01/24/12: Is Green Mountain Coffee's Management Team Milking Shareholders For Every Last Penny?

2011

12/29/11: Overstock.com Facing Dismal Fourth Quarter Numbers?

12/14/11: Green Mountain Coffee Roasters: Where are the missing beans?

11/28/11: Did j2 Global Communications Fumble in Accounting?

11/22/11: Should j2 Global Communications Restate its 2010 Financial Reports?

11/15/11: Nature's Sunshine Products, Willbros Group, Cal Dive International, and BSQUARE Violate S.E.C. Rules on Calculating EBITDA

10/31/11: Overstock.com (O.co): Insolvency Looming?

10/28/11: Overstock's "Likely" Breach of Debt Covenants

09/27/11: As InterOil tumbles, actor Shia LaBeouf and John Thomas Financial CEO Thomas Belesis have egg on their faces

09/25/11: Were Groupon’s and Overstock’s Management and Auditors Stupid or Did They Condone Improper Accounting Practices?

09/09/11: Why White-Collar Criminals Should Thank President Obama and Congressional Republicans

08/10/11: Why did Green Mountain Coffee Roasters miss red flags?

08/02/11: Why the SEC should not be duped by Overstock’s excuses to avoid sanctions

07/19/11: Is Green Mountain Coffee Roasters serving double talk to the press?

07/11/11: Overstock admits to deceptive advertising

06/17/11: Did Green Mountain Coffee Roasters Violate Its Code of Ethics, too?

06/13/11: Is Green Mountain Coffee Roasters Fudging Its Reserve Numbers?

06/06/11: To the Securities and Exchange Commission: Green Mountain Coffee Roasters selectively spills the beans and its numbers still don't add up

06/04/11: Hypocrisy Behind Florida Law Requiring Welfare Recipients to Take Drug Tests

05/23/11: Are the Feds Going Insane?

05/19/11: California Court Compels Overstock.com to Turnover Contact Information of Former Employees to District Attorney Investigating Consumer Fraud

05/09/11: Is Green Mountain Coffee Roasters Shuffling the Beans to Beat Earnings Expectations?


05/04/11: Green Mountain Coffee Roasters: Do they know how to counts the beans?

04/14/11: Reuters on FBI Efforts to Profile White-Collar Criminals

04/14/11: Government Accounting Makes Crazy Eddie's Numbers Look Sane


04/12/11: Why is Overstock.com obstructing California District Attorney’s investigation into allegations of consumer fraud?


03/24/11: Is Michelle Stacy a shrewd insider, a psychic or just plain lucky?

03/14/11: Green Mountain Coffee Roasters: The Foul Aroma of Michelle Stacy's Stock Sales

03/03/11: A Question for John Thaler About Green Mountain Coffee Roaster Call Options

02/28/11: Is Green Mountain Coffee Going to Get Roasted by its Exes?

02/16/11: A Question for the CFO of Green Mountain Coffee Roasters

02/13/11: Green Mountain Coffee Roasters: Murky Financial Disclosures

01/04/11: Green Mountain Coffee Roasters: Calling a Bean, a Bean

2010

12/16/10: A Question for Green Mountain Coffee Roasters

12/13/10: Green Mountain Coffee’s financial reporting doesn’t taste as good as its coffee

12/09/10: To Green Mountain Coffee Roasters: My Questions for Today's Earnings Call

12/08/10: Green Mountain Coffee Roasters, Slow Murky Drip

12/02/10: Green Mountain Coffee Roasters, Time to Spill the Beans?

11/23/10: California District Attorneys Sue Overstock.com for Defrauding Consumers While the SEC Finds New Disclosure Problems

11/04/10: Patrick Byrne Absent From Third Quarter Earnings Call

11/01/10: More Trouble for Overstock.com and Patrick Byrne after Dismal Third Quarter Report

10/21/10: Interesting Issues in Timing of Green Mountain Insider Stock Sales and Disclosure of SEC Inquiry

10/14/10: Does Overstock.com CEO Patrick Byrne Know When to Shut Up, Especially While the SEC Investigates his Company?

10/11/10: Crazy Eddie Documentary: How We Screwed the Government, Wall Street, Investors, Consumers, and Everyone Else

10/03/10: Will KPMG Ever Wake Up and Finally Learn Its Lesson after Being Duped into Completing Crazy Eddie’s Audits Too Early Twenty Three Years Ago?

09/24/10: Comtech Does the Right Thing by Fixing Errors in Latest Report

09/16/10: What is Accounting?

09/12/10: Five More Public Companies Who Need to Learn How to Properly Compute EBITDA under SEC Rules

08/06/10: Overstock.com CEO Patrick Dumped Stock Ahead of Bad Earnings Report and Misled Investors About Earnings

08/04/10: Another Question about Timing of NBTY Insider Stock Purchases Prior to Announcement of Carlyle Acquisition

07/26/10: Penson Worldwide and Comtech Telecommunications Need to Learn How to Properly Calculate EBITDA under SEC Rules

07/25/10: My Life as a White-Collar Criminal

07/20/10: I Have A Question

07/14/10: Goldman Sachs Settlement with SEC Ignores Company’s Duty to Provide Timely Disclosures to Shareholders about Investigation Leading up to Litigation

07/07/10: Open Letter to the Securities and Exchange Commission: Investigate Troubling Issues at Amedisys Missed by Wall Street Journal

06/27/10: Open Letter to the Securities and Exchange Commission Part 9: Overstock.com's Excuses Simply Don't Add Up

06/22/10: If You Question Medifast's Revenue Accounting, Expect a Subpoena Rather Than a Rebuttal

06/20/10: Open Letter to the Securities and Exchange Commission  Is Medifast Complying with Revenue Accounting Rules?

06/17/10: Open Letter to the Securities and Exchange Commission: Can a Convicted Felon Help You Find Financial Reporting Violations?

06/15/10: Class Action Complaint against Amedisys uses Sarbanes-Oxley Act Corporate Governance Provisions to Battle Alleged Corporate Malfeasance

06/13/10: Open Letter to the Securities and Exchange Commission: Why You Must Review Medifast's Revenue Accounting Disclosures

06/09/10: How White-Collar Criminals Exploit Your Vanity- Beware of Compliments

06/07/10: Politicians and Public Companies Who Instigate SEC Investigations in an Attempt to Silence Critics

06/02/10: Why President Barack Obama Must Take Steps to Significantly Increase Law Enforcement Resources to Combat White-Collar Crime

06/01/10: Fraud Discovery Issues Investigative Report Rebutting Congressman Anthony Weiner's Allegations Against Glenn Beck Show Advertiser Goldline

05/26/10: Patrick Byrne Pockets $3.1 Million from Dumping Overstock.com Shares While Trying to Stave Off Possible SEC Enforcement Action

05/24/10: The Brutality of Non-violent Organized White-Collar Criminal Groups

05/19/10: Barry Minkow Gives Medifast the Middle Finger

05/18/10: Can We Trust Bidz.com's Financial Reporting?

05/14/10: More Nepotism and Undisclosed Shady Related Party Transactions Found at InterOil

05/09/10: Straight Talk about Brutality of White Collar Crime from a Convicted Felon

05/05/10: Is InterOil Another Tyco or Crazy Eddie?

05/05/10: Can Investors Rely on Overstock.com's Reported Q1 2010 Numbers?

05/02/10: Bomb Found in New York City's Times Square: A Warning from a Convicted Felon

04/29/10: Are InterOil's Auditors Capable of Finding Fraud in Plain Sight?

04/28/10: The Real Reason Behind Danny DeVito’s Crazy Eddie Movie Project Meltdown from Eddie Antar’s Cousin and Criminal CFO Sam E. Antar

04/20/10: New Movie: Shia Labeouf Helps Thomas Belesis from John Thomas Financial Pump InterOil

04/20/10: Goldman Sachs Tells More Bull to Investors

04/20/10: Should the SEC Investigate Medifast Like It's Investigating Pre-Paid Legal?

04/18/10: Did a Clever SEC Bait Goldman Sachs into Compounding Its Legal Problems With the "Kiss of Death" Message?

04/08/10: Open Letter to Morgan Stanley "Research" Analyst Evan Calio: About Your Seriously Flawed Report on InterOil

04/06/10: InterOil: Deal or No Deal? Does it Matter?

04/05/10: Open Letter to the Securities and Exchange Commission (Part 8): Bring Enforcement Action Against Overstock.com for False and Misleading Disclosures

04/02/10: New False Disclosures about Overstock.com's "Tax Dodge" Found in 10-K

04/01/10: Overstock.com's New 10-K Report Reveals Management Deceptions, Major Internal Control Problems, and Zero Quality Earnings

03/31/10: Did InterOil Commit Securities Fraud?

03/29/10: Another Key Departure at Overstock.com: It Went Unreported, Too

03/29/10: The InterOil Saga: Convicted Felons Battle Current Breed of Stock Market Miscreants

03/26/10: Is InterOil Built on a Foundation of Fraud?

03/25/10: Can Shia LaBeouf Help Shed Light on a Stock Market Manipulation Scheme Involving InterOil and John Thomas Financial?

03/17/10: Overstock.com Delays Filing 10-K, Reports Even More GAAP Violations, While Patrick Byrne Hides

03/16/10: Indicted Former Democratic Assemblyman Louis Manzo Would be Wise to Stop Blabbing and Simply Shut Up

03/04/10: Open Memo to Medifast Board Chairman Bradley T. MacDonald and Chief Executive and CFO Michael S. McDevitt: Q4 2009 Earnings Call Questions

02/21/10: First Jury Trial in Federal Corruption Probe Based on Informant Solomon Dwek Convicts Beldini: Are Some Defendants Living on Hope?

02/19/10: Open Memo to Medifast Board Chairman Bradley T. MacDonald and Chief Executive and CFO Michael S. McDevitt: Grow Some Hair on Your Chest

02/16/10: The Mentality of White Collar Criminals: Providing Insight on "Connect with Mark Kelley"

02/04/10: My Reporting of a Financial Statement Manipulation Scheme at Overstock.com is Vindicated by Latest Company Announcement

02/02/10: Open Letter to the Securities and Exchange Commission (Part 7): Why Overstock.com and David Chidester Parted Ways

01/28/10: Former Overstock.com Insider David Chidester in the Hot Seat

01/27/10: Unusual Timing of Medifast Auditor Resignation

01/27/10: Open Letter to KPMG: The Ties That Bind Overstock.com, Patrick Byrne, and Deep Capture LLC

01/25/10: Open Letter to KPMG: A Warning About Overstock.com, Your New Audit Client

01/20/10: Roddy Boyd Article Will Cause SEC to Expand Investigation of Overstock.com and Probably Result in Sales Tax Investigation by New York

01/12/10: Open Memo to Medifast Chief Executive and CFO Michael S. McDevitt: Cut the BS and Address Troubling Issues Raised by Barry Minkow

01/03/10: Open Letter to the Securities and Exchange Commission Part 6: Conflicting Disclosures by Overstock.com Reveal Improper Audit Opinion Shopping

2009

12/29/09: Is Overstock.com Shopping for an Audit Opinion?

12/14/09: Open Letter to the Securities and Exchange Commission (Part 5): Issuer Retaliation Complaint Against Overstock.com

12/10/09: Overstock.com and Patrick Byrne Have an Enemies List That Includes Friends and Family Members of Critics

11/26/09: Open Letter to the Securities and Exchange Commission Part 4: Patrick Byrne Ignores Real Issues As He Vilifies Grant Thornton

11/24/09: Advice For Patrick Byrne: The Cover-up is Always More Dangerous Than the Crime For Lying CEOs Like You

11/23/09: Open Letter to the Securities and Exchange Commission Part 3: Overstock.com Lied About Grant Thornton and Concealed Error

11/22/09: Open Letter to the Securities and Exchange Commission Part 2: New Information on Overstock.com's GAAP and SEC Disclosure Violations

11/18/09: Overstock.com CEO Patrick Byrne Ducks Crucial Questions During Call

11/17/09: Overstock.com Fires Grant Thornton After They Agree With Me on GAAP Violations

11/13/09: SEC Busts SafeNet for Regulation G Violations. Will Overstock.com be Next?

11/10/09: SEC Expands Bidz.com Investigation

11/10/09: Overstock.com Delays Filing of Q3 2009 10-Q Report Due to Material Disagreements Over Proper Accounting

11/07/09: Why Abolishing or Weakening Sarbanes-Oxley is Insane! Lessons from the Crazy Eddie Fraud
11/04/09: What is Patrick M. Byrne Afraid Of?

11/03/09: Overstock.com (NASDAQ: OSTK) Q3 2009 Earnings Call: Questions for Patrick Byrne

10/26/09: Patrick Byrne To Tough It Out With SEC Over GAAP Violations

10/09/09: Overstock.com CEO Patrick Byrne Is In a Very Sour Pickle

10/07/09: Crain's New York Business: Crazy Like a Fox - Aaron Elstein Interviews Me

09/22/09: Continued GAAP Violations Caused the Securities and Exchange Commission to Re-open Its Investigation of Overstock.com

08/11/09: Minkow: inVentiv President Terrell Herring Obtained Degree From Diploma Mill and Company Violated Regulation G Governing Non-GAAP Measures

08/05/09: Open Letter to the Securities and Exchange Commission: Stop Overstock.com GAAP Violations Now!

07/29/09: How To Issue Phony Financial Reports and Mislead Investors - Overstock.com and Patrick M. Byrne Style

07/13/09: InterOil, John Thomas Financial and Clarion Finanz: Anatomy of a Stock Market Manipulation Scheme

07/13/09: Overstock.com Issues Unregistered Shares to 401-K Plan

07/11/09: To Bidz.com: Thank for the subpoena and the check, too!

07/09/09: InterOil: How a Deceitful Company Made a Very Dumb Deal, Too

07/06/09: Diamonds Are Not Forever For Two Key Bidz.com Insiders

07/01/09: Banned Stock Promoter Carl Caserta Still Working for InterOil and Promoting Its Stock Despite Previous Denials

06/25/09: Bidz.com Auditors Cited by PCAOB in Five of Thirteen Audits Sampled

06/18/09: InterOil Files False Dislosures With SEC (Redacted Version)

06/13/09: Memo to President Barack Obama from a Convicted Felon: Be Prepared For an Unprecedented Onslaught of White Collar Crime

06/10/09: Compelling Reasons for Medifast to Replace Auditors

06/04/09: Children's Place Violates SEC Regulation G Governing Non-GAAP Financial Measures

05/27/09: Crazy Eddie Movie: Danny Devito's Slobbering Love Affair with Convicted Stock Swindler Eddie Antar
05/15/09: Is Interoil Selling Investors Hope?

05/14/09: Bidz.com under siege from Investigations and Lawsuits

05/04/09: Overstock.com's First Quarter Financial Performance Aided by GAAP Violations

04/22/09: Today's Overstock.com Q1 2009 Earnings Conference Call: Questions Submitted to Patrick Byrne

04/16/09: Don't criticize Overstock.com and Patrick Byrne, especially if you are going through a divorce

04/04/09: Overstock.com Proxy Reveals Exit Payment to Departing Director James V. Joyce's Company is Equivalent to Three and One-Half Year's Fees

04/02/09: Overstock.com Director James V. Joyce Bolts, Receives Huge Questionable Exit Payment

03/31/09: Barry Minkow's Report on Speedway Motorsports Details Troubling Disclosures and Raises Serious Concerns

03/30/09: To Grant Thornton, New Auditors for Overstock.com

03/12/09: Understanding the Mind of Bernie Madoff

02/24/09: SEC Investigating Bidz.com after Questions Raised in This Blog about Inventory Disclosures

02/11/09: Two Universities Say Intrepid Potash President Patrick Avery Didn't Get Degrees Claimed in SEC Filings

02/09/09: Overstock.com Refuses to Correct Accounting Errors in Latest Financial Report

02/04/09: Overstock.com and CEO Patrick Byrne Violate Accounting Rules in Q4 2008 Financial Report

01/19/09: Warning to President-Elect Barack Obama from a Convicted Felon: Beware of the Bait and Switch

2008

12/29/08: A New Year's Message from a Convicted Felon: While you hope, criminals prey

12/13/08: Is there really more white collar crime today? No.

12/10/08: Barry Minkow Releases New Document to Show Microsemi Exec Peterson Lied

12/08/08: Does Democratic Leadership Inaction on Rangel Render Promises of "Change" a "Bait and Switch" Tactic?

12/04/08: Manian Resigns From STEC, A Day After Broadcom Fires Him For Phony Credentials

12/03/08: Broadcom Executive Fired Today For Phony Credentials, While Microsemi Executive Remains Under Scrutiny

12/03/08: Barry Minkow Reports More Corporate Scoundrels Misrepresenting Credentials

11/30/08: New York Democratic Party Leadership Takes Money from Same-Sex Marriage Supporters and Won't Deliver on Promises

11/23/08: Overstock.com: Rule 10b-5 Exposure from Disclosure Violations

11/17/08: Is Trimble Navigation's Stock Repurchase Program a Pump and Dump for Insiders?

11/16/08: Barry Minkow Exposes Corporate Scoundrels Misrepresenting Their Resumes

11/16/08: Advice to President-Elect Barack Obama about Combating White Collar Crime From a Convicted Felon

11/10/08: Overstock.com's New Disclosures Today Show Company Financial Reports Were a "Joke"
11/06/08: Lawsuit Alleges Shill Bidding on Bidz.com Web Site

11/02/08: What Overstock.com Did Not Tell Investors About Latest Accounting Error

10/26/08: New Accounting Errors Make Overstock.com's Financial Reports Not Reliable While SEC Regulation G Violations Continue

10/24/08: Message to Overstock.com Management about Q3 2008 Earnings Call

10/23/08: My Questions for Overstock.com CEO Patrick Byrne Regarding Upcoming Earnings Call for Q3 2008

10/19/08: Why White Collar Criminals Do Not Fear Today's FBI

10/10/08: A Crisis of Confidence: Some Small Steps We Can Take Now
09/08/08: Are Bidz.com's Stock Buy Backs a Wise Move?

09/03/08: What Utah Attorney General Mark Shurtleff Does Not Want Anyone to Know

09/02/08: Bidz.com: Questionable and Inconsistent Inventory Disclosures

08/18/08: Overstock.com (NASDAQ: OSTK) CEO Patrick Byrne Pays Utah Attorney General Mark Shurtleff to Defame a Blogger

08/06/08: Utah Attorney General Mark Shurtleff once caught removing opponent's campaign signs

07/31/08: Why Jonathan Johnson is the Right Choice for President of Overstock.com

07/28/08: What is Mark Mitchell Hiding about Himself, Deep Capture, and Overstock.com?

07/24/08: Are Overstock.com's Stock Buybacks "Destroying Shareholder Value"?

07/19/08: The SEC stands by while Overstock.com continues to violate Regulation G and overstates EBITDA in latest report

07/15/08: Limiting Auditor Liability is Plain Dumb

07/15/08: Shop To Earn Tries to Bully Bloggers with Litigation

06/23/08: What Overstock.com did not tell the Securities and Exchange Commission

06/08/08: Not yet "Yipikaye" for Overstock.com CEO Patrick Byrne

06/02/08: Overstock.com CEO Patrick Byrne Calls Himself a Crook

05/28/08: Overstock.com Continues to Violate SEC Regulation G and Materially Overstate EBITDA in Q1 2008

05/21/08: Warning from a Convicted Felon: Don't Be Fooled by People Who Flaunt Their Integrity

05/19/08: Overstock.com and PricewaterhouseCoopers: Errors in Submissions to SEC Division of Corporation Finance

05/12/08: Overstock.com and Patrick Byrne: Anatomy of a Stock Market Manipulation Scheme (Part 3)

04/28/08: Overstock.com: Anatomy of a Stock Market Manipulation Scheme (Part 2)

04/25/08: Barry Minkow Finds Herbalife Executive Falsified Credentials

04/23/08: Overstock.com SVP Jonathan E. Johnson lies in frantic attempt at damage control

04/21/08: Overstock.com and Patrick Byrne: Anatomy of a Stock Market Manipulation Scheme - First Quarter Earnings Release

04/17/08: Patrick Byrne has a new pet journalist with a captured mind

04/11/08: Fraud Discovery Institute Lists "Top 10 Red Flags for Fraud at Herbalife"

03/31/08: BIDZ.com's Inventory Disclosures: More Questions

03/19/08: To BIDZ.com CFO Lawrence Kong: Is BIDZ reporting inventory in compliance with GAAP?

03/17/08: Overstock.com and Patrick Byrne: Phony Accounting and False and Misleading Disclosures - New Lies

03/14/08: Is BIDZ.com Reporting Inventory in Compliance with GAAP?

02/26/08: Overstock.com and Patrick Byrne: Phony Accounting and False and Misleading Disclosures - Revenues

02/20/08: Did Overstock.com's recent press release about Gradient violate rule 10b-5?

02/04/08: Overstock.com and Patrick Byrne: Phony Accounting and False and Misleading Disclosures

01/17/08: Jason C. Lindsey backdates his resignation: Proof

01/17/08: Are certain former Overstock.com directors jumping ship on Patrick Byrne?

01/07/08: Did former Overstock.com President, Chief Operating Officer, and Director Jason C. Lindsey backdate his resignation?

01/02/08: Why did Overstock.com President and COO Jason C. Lindsey really resign?

2007

12/21/07: Warning to White Collar Criminals: Plan Ahead

12/21/07: Fortune Magazine Article: Takes one to know one

12/13/07: Open Letter to Utah Attorney General Mark Shurtleff Re: Your lies on behalf of campaign contributor Overstock.com

12/03/07: Overstock.com and CEO Patrick Byrne: Improper use of EBITDA results in Regulation G Violation

11/29/07: Utah Attorney General Mark Shurtleff Caught Lying on Behalf of Overstock.com and Patrick Byrne

11/26/07: Overstock.com and CEO Patrick Byrne: Securities and Exchange Commission Regulation G Violations

11/19/07: Utah Attorney General Mark Shurtleff Panders to Campaign Contributor Overstock.com and Defames CEO Patrick Byrne Critic

11/12/07: Overstock.com vs. Gradient and Copper River (aka Rocker) Part 4: Read all about it

11/12/07: Overstock.com vs. Gradient and Copper River (aka Rocker) Part 3: Details of Countersuit

11/10/07: Overstock.com vs. Gradient and Rocker Part 2: Countersuit by Rocker

11/08/07: Did Overstock.com CEO Patrick Byrne cook the company's numbers and mislead investors? (Part 4)

11/01/07: Overstock.com CEO Patrick Byrne Continues to Dodge Questions about SEC Probe and Faces Counterclaims by Rocker and Gradient

10/24/07: Is New York State Using a "Trust, Don't Verify" Approach Regarding Convicted Felon CPAs?

10/22/07: Open Letter to Patrick Byrne, CEO of Overstock.com

10/16/07: A Warning to Wall Street Analysts from a Convicted Felon

10/03/07: Patrick Byrne, CEO of Overstock.com: A history of deception, deceit, and distortion - Part 1: The Early Days

09/25/07: Overstock.com vs. Gradient and Rocker Part 1: Patrick Byrne and his Three Stooges
09/11/07: Overstock.com CEO Patrick Byrne and his Black Ops

09/10/07: Advice from a convicted felon: How the government investigates and prosecutes white collar criminal cases

08/23/07: Did Overstock.com CEO Patrick Byrne cook the company's numbers and mislead investors? (Part 3 - The end game)

08/22/07: Did Overstock.com CEO Patrick Byrne cook the company's numbers and mislead investors? (Part 2)

08/20/07: Did Overstock.com CEO Patrick Byrne cook the company's numbers and mislead investors? (Part 1)

08/12/07: Patrick Byrne, CEO of Overstock.com, Admits to Being Target of Government Probe

08/07/07: Does Overstock.com's Audit Committee have its head in the sand regarding Patrick Byrne?

08/05/07: Judd Bagley, Director of Communications at Overstock.com, stalks a teenage blogger

08/02/07: Patrick Byrne, CEO of Overstock.com, Dodges Questions about SEC Subpoenas and Plays Games

07/30/07: Utah Companies that are engaged in Fraud Beware!

07/23/07: Did Patrick Byrne, CEO of Overstock.com, Deliver a Trojan Horse to the Securities and Exchange Commission?

07/16/07: Patrick Byrne (CEO of Overstock.com) deceives the New York Times about his activities on internet message boards

07/12/07: The Crazy Eddie Movie

07/08/07: Patrick Byrne, CEO of Overstock.com, Continues his Ugly Campaign of Menace

07/06/07: Advice to Richard A. Altomare (Universal Express) from a Convicted Felon: Cut the Bull

07/02/07: InvestorVillage is the place for Overstock.com CEO Patrick Byrne, his henchman Judd Bagley, and their cronies

06/25/07: Crazy Eddie Speaks Cousin Sam E. Antar Responds

06/22/07: Crazy Eddie and cousin Sam E. Antar clash on CNBC
06/18/07: Who is Judd Bagley trying to fool about the use of anti-Semitism to attack critics of his boss, Overstock.com CEO Patrick Byrne?

06/08/07: Open Letter to the Audit Committee of Overstock.com: About how Patrick Byrne’s vindictive smear campaign uses threats and anti-Semitism

06/04/07: Open Letter to the Audit Committee of Overstock.com: Patrick Byrne denies using private eyes

06/03/07: Memo to Judd Bagley: Director of Communications at Overstock.com - About Threats on AntiSocialMedia.net

06/02/07: Advice about Trust from a Convicted Felon

05/30/07: Open Letter to the Audit Committee of Overstock.com: The Company’s Code of Business Conduct and Ethics and actions of Patrick Byrne and others

05/25/07: Why are people distancing themselves from Overstock.com CEO Patrick Byrne?

05/17/07: To Patrick Byrne, CEO of Overstock.com: More Questions about the Company's Code of Business Conduct and Ethics

05/16/07: To Patrick Byrne, CEO of Overstock.com - Did you comply with the Company's Code of Business Conduct and Ethics

05/15/07: Overstock.com: A Copy of its Code of Business and Professional Ethics

05/14/07: Overstock.com and Patrick Byrne: The Deception Continues

05/13/07: Patrick Byrne, CEO of Overstock.com Cannot Answer a Simple Question

05/12/07: To Patrick Byrne, CEO of Overstock.com: Stop Deflecting and Start Answering Questions
05/09/07: Patrick Byrne, CEO of Overstock.com, receives SEC subpoena

05/03/07: Is Patrick Byrne, Overstock.com CEO, making false, misleading, and/or deceptive statements about the company’s financial issues?

04/25/07: Questions the Securities and Exchange Commission may ask Patrick Byrne (CEO of Overstock.com) in its investigation of (not “on”) Overstock.com

04/16/07: The Deceptions of Patrick Byrne (CEO of Overstock.com) and Judd Bagley (Director of Social Media at Overstock.com)

04/04/07: Don't Mess with Overstock.com CEO Patrick Byrne

03/04/07: White Collar Crime: How Criminals Exploit your Humanity

02/20/07: Investor Village Et al Limits Sam E. Antar from Asking Questions on Overstock.com - Shame on Them!

01/21/07: An Open Letter to KPMG, PricewaterhouseCoopers, Deloitte & Touche, Ernst & Young, and other Accounting Firms Subject to Inspections by the PCAOB

01/17/07: Sam E. Antar and Judd Bagley from Overstock.com Communicate on DealBreaker Blog

01/15/07: Overstock.com: An Arsenal of Intimidation and Fear

01/14/07: The Real Story of Crazy Eddie's Lowest Price Guarantee

01/10/07: Open Letter to the Public Company Accounting Oversight Board

01/09/07: Financial Fraud: We Don't Want These Companies to List Here

01/05/07: Is There a Judgment Gap at The Gap?

2006

12/30/06: Apple Computer's Stock Options Backdating Scandal: An Ex-felons View

12/25/06: The Art of Spinning: How to Identify White Collar Criminals or at Least Unethical and Deceitful People Who You Should Avoid

12/19/06: Why I Do Not Fear Auditors

12/19/06: Managing Earnings: Playing the Numbers Game

12/15/06: Cooperation: Andrew Fastow vs. Sam E. Antar

12/10/06: Hiding Your Dirty Laundry in the Footnotes: Anatomy of the Crazy Eddie Accounts Payable Fraud

12/03/06: In Class Action Securities Litigation Sometimes I Wonder Who are the Clients

12/03/06: D & O Insurers Can Help in Corporate Governance

12/02/06: When Regulatory Relief Really Means Relaxing Standards of Transparency and Integrity

11/18/06: Wall Street Journal Law Blog Asks Are Sentences Meted Out for White Collar Felons Too Long and I Answer Their Blog

11/18/06: Crazy Eddie Trademark - Not very Valuable

11/12/06: Audit Committees and External Auditors a Perfect Storm for Disaster

11/03/06: Response to Senator Schumer and Mayor Bloomberg Commentary of Sarbanes-Oxley Reform

10/28/06: Guilty Defendants (You know who you are) The Best Defense May not be the Most Expensive

10/26/06: The Private Securities Litigation Reform Act of 1995: The Unintended Consequence of "Pay to Play"

10/24/06: Skilling's Sentence: What It Is Good For and What Still Is Required

10/22/06: Spreading the Messasge

10/17/06: Memo to Warren Buffett from an Ex-Felon

10/15/06: Who Should Internal Auditors Report To?

10/08/06: The Battle for the Soul of American Capitalism

10/06/06: Warning to Business: We require better education for accountants and auditors, more independent audits, and better barriers to white collar crime

10/02/06: Crazy maybe, but listen to this crook

09/30/06: Former Federal Reserve Chairman Alan Greenspan Speaks Out about Sarbanes Oxley and I Answer Him Back

09/25/06: Asbury Park Article One of the Antar's still talks about the fraud at Crazy Eddie

07/20/06: SEC Moves Forward on Sarbanes Oxley Improvements

Popular Posts

Did a Clever SEC Bait Goldman Sachs into Compounding Its Legal Problems With the "Kiss of Death" Message?

Updated: At 3:48 AM ET 04/20/2010 on bottom

The Kiss of Death

In filing its lawsuit against Goldman Sachs (NYSE: GS) on a Friday, the Securities and Exchange Commission sent what I call the "kiss of death" message to the embattled company. In other words, the SEC wanted to stick it to Goldman Sachs and Fabrice Tourre, the Executive Director of Goldman Sachs International, who is also a defendant in the complaint. While the SEC as a practice does inform target companies and individuals of an impending enforcement action, it does not always tell them exactly when such an action will be filed.

Apparently, the SEC filed its lawsuit without giving Goldman Sachs the heads up that it was planning to file it that day. Business Insider observed that Goldman Sachs was clearly unprepared to respond to the complaint as news of the lawsuit dominated the headlines all day. Goldman issued a short denial around noon and issued an extensive denial late in the afternoon, after most people had …

Overstock.com CEO Patrick Byrne Sleeps With a Gun

In numerous blog posts in the past, and in widespread media coverage, evidence has accumulated for years that Overstock.com CEO (NASDAQ: OSTK) Patrick Byrne has shown signs of being mentally unbalanced and paranoid.

Byrne has blamed his company's financial woes on an unnamed "Sith Lord." He hired paid goons to stalk his real and imagined adversaries and to write lengthy conspiracy theories on the Internet. Byrne has close ties with Bo Gritz. The Anti-Defamation League lists Bo Gritz as a far-right extremist with “extensive connections to both white supremacists and anti-government groups and leaders.”

Patrick Byrne's infamous temper tantrums when he doesn’t get want he wants are well documented too. He made obscene and misogynistic comments to a female reporter. He suggested that she gave “blowjobs” to Goldman Sachs traders. He suggested that a male reporter “Sucks It Likes He’s Paying the Rent.” An independent research analyst was told that “You deserve to be whippe…

Nature's Sunshine Products, Willbros Group, Cal Dive International, and BSQUARE Violate S.E.C. Rules on Calculating EBITDA

Nature’s Sunshine Products (NASDAQ: NATR), Willbros Group (NYSE: WG), Cal Dive International (NYSE: DVR), and BSQUARE (NASDAQ: BSQR) have recently issued earnings reports which include a calculation of EBITDA (earnings before interest, taxes, depreciation, and amortization) that apparently does not comply with Securities and Exchange Commission interpretations for Regulation G governing such non-GAAP financial measures. In each case, their erroneous EBITDA calculations have enabled them to significantly distort their financial performance by erroneously reporting a positive EBITDA, when they should have reported a negative EBITDA in the latest quarter.

How EBITDA is supposed to be calculated under Regulation G

According to the S.E.C. Compliance & Disclosure Interpretations, EBITDA is defined under Regulation G as net income (not operating income) before net interest, taxes, depreciation, and amortization. See below:

Question 103.01Question: Exchange Act Release No. 47226 describes E…

InterOil, John Thomas Financial, and Clarion Finanz: Anatomy of a Stock Market Manipulation Scheme

In this blog post, I will provide evidence of what I believe is a stock market manipulation scheme involving InterOil (NYSE: IOC), John Thomas Financial, and Clarion Finanz AG. I believe that InterOil with the assistance of Clarion Finanz concealed John Thomas Financial’s involvement in helping it raise $95 million through a private placement of convertible debt securities.

Clarion Finanz acted as a buffer between InterOil and John Thomas Financial to help InterOil hide John Thomas Financial's role in raising funds. Afterwards, InterOil filed false and misleading reports with the Securities and Exchange Commission in an effort to conceal John Thomas Financial’s role in helping the company raise $95 million in convertible debt.

Carl Caserta, who in 1991 was barred by the Securities and Exchange Commission from “association with any broker, dealer, or investment advisor” played a role in helping InterOil use John Thomas Financial to obtain funds from investors. InterOil, John Thoma…

Class Action Complaint against Amedisys uses Sarbanes-Oxley Act Corporate Governance Provisions to Battle Alleged Corporate Malfeasance

Updated at bottom of article

Last week, Pomerantz Haudek Grossman & Gross LLP filed a class action lawsuit against Amedisys (NASDAQ: AMED) charging the company, its CEO William F. Borne and its CFO Dale E. Redman with securities fraud.  In the next few days, Bernstein Liebhard LLP and Finkelstein Thompson LLP filed similar class action lawsuits against the company. The lawsuits allege that Amedisys abused Medicare's reimbursement system for at-home therapy care based on a compelling analysis of company revenues in an April 27 Wall Street Journal article.

In addition, the lawsuits innovatively utilize a provision under Section 406 of the Sarbanes-Oxley Act 2002 which provides a back-door way for investors to force ethical corporate governance and sue public companies for malfeasance. That provision requires Senior Financial Officers, such as the CEO and CFO of public companies, to abide by a strict code of ethics which broadly defines corporate malfeasance and effectively makes…