Earnings management at Overstock.com?

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Sam Antar at White Collar Fraud Blog has posted the second part of his analysis of Overstock.com’s second quarter numbers, and it ain’t pretty! Looks like Byrne and company are doing even more fancy math! Yoo-hoo… SEC… are you listening? Sam says this about [tag]financial crimes[/tag]: [tag]White collar crime[/tag] is a [tag]crime[/tag] of persuasion. Often,…

Overstock.com and its phony earnings figures

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Today on the White Collar Fraud Blog, Sam Antar has the first part of a three part series on the inventory numbers at Overstock.com. It’s curious how Overstock’s inventory numbers always seem to create more questions than they answer. Sam has some insight into this. As the former CFO of Crazy Eddie, a company that…

Wondering Why Frauds at Public Companies Aren’t Being Pursued by the Feds?

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Consumers are often left wondering why the Securities and Exchange Commission doesn’t heavily pursue allegations of fraud against public companies like Overstock.com (NASDAQ:OSTK), Usana Health Sciences (NASDAQ:USNA), Herbalife (NYSE:HLF), and the like. I’ve always said the answer is simple: There are not enough resources devoted to investigating and prosecuting fraud in public companies. Executives are…