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Patrick Byrne, CEO of Overstock.com, resigned from retailer Thursday after having his cryptic statement last week about "the deep state" and his involvement in various investigations. He had also told the New York Times that he had an affair with Russian agent sentenced Maria Butina.
In a letter sent Thursday to shareholders, Byrne said he had no choice but to resign as a result of his comments. "My presence can affect and complicate all kinds of business relationships, from insurability to strategic discussions about our retail business," he said. "So, while I believe that I have done what was necessary for the good of the country, I am in the sad situation of having to break ties with Overstock, both as CEO and board member. Administration, as of Thursday, August 22. "
Overstock.com said that board member Jonathan E. Johnson III would act as interim CEO.
Byrne 's statement last week raised eyebrows, with the executive claiming to have helped federal investigators at the "Clinton Inquiry" and at the "Russian investigation", apparently hinting at the fact that it was not the case. FBI investigation into Russia's interference in the 2016 presidential election. Investors were frightened, sending their shares from Overstock.com to more than one-third over a period of time. two days.
Overstock shares surged after the company declared Byrne had resigned. At the beginning of the afternoon, the title has increased by more than 9%.
AP
Overstock CEO and Maria Butina
Byrne had previously told the New York Times that he had met Butina at a libertarian conference in 2015, sentenced in April to 18 months' imprisonment for conspiracy to infiltrate political groups in the United States. United States. They then started a three-year relationship. In last week's statement, Byrne did not mention Butina, but claimed that he had helped the FBI in several investigations, calling them "Men in Black".
"It was the third time in my life that I had helped the Men in Black: the first time, when my friend Brian Williams was murdered, and the second time when I helped the MIB to shake Wall Street there was ten years, "he writes. a 2008 article on government and corporate control over media in which Byrne figured.
"Unfortunately, this third time has proven less focused on law enforcement than on political espionage against Hillary Clinton and Donald Trump (and to a lesser extent, Marco Rubio and Ted Cruz). ). "
In his letter to shareholders, Mr. Byrne said that "to make known" his concerns and his involvement "was not my first choice, but for the last three years, I have seen my country part with many answers, and I put the red line civil violence breaks out. "
He concluded the letter by encouraging shareholders: "And do not forget to shop on Overstock.com!"
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