Overstock.com CEO Patrick Byrne resigned from the retailer on Thursday afterand his involvement in various investigations. He had also told The New York Times that he had an affair with .
In a letter sent to shareholders on Thursday, Byrne said he had no choice but to resign after his comments. "My presence can affect and complicate all kinds of business, from insurance security to strategic discussions about retail," he said. Although I believe I did what was necessary for the country's best, for the best of the company, I am in the sad position of having to break ties with Overstock, both CEO and board member, with effect from Thursday August. 22 "" Russian Investigation, "apparently a reference to the FBI probe of Russian interference in the 201
Shares of Overstock jumped after the company said Byrne had resigned, and by early afternoon trading the stock was up more than 9%.
Overstock CEO and Maria Butina
Byrne previously told The New York Times that he met Butina at a 2015 libertarian conference, which in April was sentenced to 18 months in prison on charges of conspiring to infiltrate political groups in USA The two later began a three-year relationship. In his statement last week, Byrne did not mention Butina, but claimed he helped the FBI with several investigations, calling them "the men in black."
"It was the third time in my life I helped the men in black: the first was when my friend Brian Williams was murdered, and the second was when I helped MIB shake up Wall Street a decade ago," he wrote and linked to a 2008 article on government and corporate control of the media where Byrne figured.
"Unfortunately, this third time turned out to be less about law enforcement and more about political espionage done against Hillary Clinton and Donald Trump (and to a lesser extent Marco Rubio and Ted Cruz)."
In his letter to shareholders, Byrne said that "getting ahead" of his concerns and commitment "was hardly my first choice. But for three years, I have seen my country pull apart while knowing many answers, and I set my red line to see civil violence breaks out. "
He c included the letter by encouraging shareholders," And don't forget to trade Overstock.com! "