More Financial Statement Fraud at Overstock.com

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Wacky Patty ByrneWhite collar crime fighter and reformed felon Sam Antar has done it again. He has exposed the most recent financial statement fraud being perpetrated by Overstock.com (NASDAQ:OSTK) and wacky CEO Patrick Byrne.

Of course, this doesn’t come as any surprise to anyone who has been following the company. Overstock cannot turn a profit, and when management claims they have turned a profit (or managed to record a lower loss than usual), the one thing you can be sure of is that they’ve violated a bunch of accounting rules and are committing blatant acts of financial statement fraud. Continue reading