Implied Credibility Given to White Collar Criminals (and Others!)

Yesterday Reuters Insider published a video of an interview with Sam Antar, former CFO of fraudulent Crazy Eddie, talking about the efforts of the FBI to profile white collar criminals. The starting point for the interview was this article about the FBI applying techniques which were successful in profiling serial …

Conservatism is no excuse for false financial statements, Overstock.com

I’ve written extensively in the past about the train wreck that is Overstock.com (NASDAQ:OSTK) and its nutty CEO, Patrick Byrne.  Just when I think there couldn’t possibly be more to write about the horrible company and Byrne’s crazy antics, I’m proven wrong. For those that have been following Overstock.com for …

The Journal of Accountancy recommends Sam Antar’s blog

For the Journal of Accountancy’s “Smart Stops on the Web” column: IT TAKES ONE TO KNOW ONE www.whitecollarfraud.blogspot.com Who knows fraud better than a fraudster? Sam E. Antar, former Crazy Eddie Inc. CFO and convicted felon, shares his views and advice on white collar crime, securities fraud, internal controls, Sarbanes-Oxley …

Overstock.com Materially Overstates EBITDA

Sam Antar has a great article today on Overstock.com (NASDAQ:OSTK) continuing to overstate EBITDA. Specifically, Sam says: In Overstock.com’s Q1 2008 earnings release and 10-Q report the company continued to improperly remove from its EBITDA calculation, certain stock-based expenses in violation of Regulation G. As a result, Overstock.com’s reported Q1 …

About the SEC “sprinkling holy water” on Overstock.com

Last week in the Overstock.com (NASDAQ:OSTK) earnings conference call, the company’s executives had the following to say about the SEC’s investigation of the company: Patrick Byrne So, is it fair to say that all these other issues that the knuckleheads keep on raising as issues, the SEC examiners, looked at …