wacky patty – Fraud Files Forensic Accounting Blog

More Financial Statement Fraud at Overstock.com

3 November 20175 May 2009 by Tracy Coenen

White 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.

In Agreement: Overstock.com Sucks and Patrick Byrne is Wacky

3 November 201711 March 2009 by Tracy Coenen

I’ve written plenty here about perpetual money-loser Overstock.com (NASDAQ:OSTK) and its wacky CEO Patrick Byrne. Unfortunately, I’ve mostly lost interest in the topic. Why? It’s the same old, same old.

Overstock.com continuously loses money for shareholders. Byrne pretends that profits are right around the corner. More money is lost. Dishonest accounting tricks are used to pretend the company made money. Financials are restated. More money is lost. Financials are restated again. More money is lost…

You see a pattern, I hope?

Catching up on Judd Bagley: Part 1

14 August 201121 September 2007 by Tracy Coenen

I’ve been a bit remiss in my blogging about the train wreck that is called Overstock. com. The CEO, Patrick Byrne (known to many as “Wacky Patty”) and his Director of Communications, Judd Bagley regularly engage in questionable behavior in an attempt to shut up the critics of Overstock.

The crazy thing? Why don’t they just run the company? I mean, really. Overstock.com sucks. The company can’t turn a profit. Loss after loss after loss. You think they’d be concerned and actually try to do something right with the company??? Nope. Too busy chasing after Sith Lords because they shouldn’t be pointing out the problems with the company.

Well here’s the latest, and it’s good. I’ll break it up into 3 posts to give you a little time to digest it all…

Tracy Coenen on Mary Kay Cosmetics: Destroying Half a Million Women a YearWho are you speaking to, D Holland? Are you speaking to the 99% of MLM participants who lose money? Are...

NL Jackson CFE on Fraud During the Coronavirus (COVID-19) CrisisTracy, from one fraud fighter to another I couldn't agree more with your above excellent warnings. The hard part is...

D Holland on Mary Kay Cosmetics: Destroying Half a Million Women a YearObviously direct sales isn’t for everyone. You actually have to Work. Funny how you can blame a...

Tracy Coenen on The Pyramid Scheme Aspect of Primerica Financial ServicesOh, Primerica very much endorses the deception that goes on in the recruiting process. They rely on it for their...

Tracy Coenen on The Pyramid Scheme Aspect of Primerica Financial ServicesGuess what? People DO get to "decide for themselves." And they can do it with the help of information I...

Trinity1 on The Pyramid Scheme Aspect of Primerica Financial ServicesIn addition, all of the negative comments on this thread are about people, not Primerica. If you were a...

Trinity on The Pyramid Scheme Aspect of Primerica Financial ServicesHere's a novel idea. Let people decide for themselves what they do. Most people recruited to Primerica have...

OttoAuto on Shark Tank’s Barbara Corcoran $400k Fraud VictimYet, it's a good cautionary story, as many have fallen for basically the same type of scam, but were NOT...