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Patrick Byrne, Overstock C.E.O., Resigns After Disclosing Romance With Russian Agent Patrick Byrne, Overstock C.E.O., Resigns After Disclosing Romance With Russian Agent
(32 minutes later)
Patrick Byrne resigned as chief executive of the online retailer Overstock.com on Thursday, saying in a letter to shareholders that he had no choice but to quit as a result of the attention stirred up by his decision to publicly disclose his relationship with a woman accused of being a Russian agent. Patrick Byrne resigned as chief executive of the online retailer Overstock.com on Thursday, saying he had no choice but to quit because of the attention stirred up by his public disclosure of a relationship with a woman accused of being a Russian agent.
Mr. Byrne said in his letter that his continued presence at Overstock’s helm “may affect and complicate all manner of business relationships.” Mr. Byrne said in a letter to shareholders that his continued presence at Overstock’s helm “may affect and complicate all manner of business relationships.”
“Thus, while I believe that I did what was necessary for the good of the country, for the good of the firm,” he wrote, “I am in the sad position of having to sever ties with Overstock, both as C.E.O. and board member.”“Thus, while I believe that I did what was necessary for the good of the country, for the good of the firm,” he wrote, “I am in the sad position of having to sever ties with Overstock, both as C.E.O. and board member.”
Mr. Byrne’s relationship with the woman, Maria Butina, lasted three years, from 2015 to 2018, and eventually became romantic. It did not become widely known until last week, when Overstock took the unusual step of issuing a news release calling attention to it. Mr. Byrne’s relationship with the woman, Maria Butina, lasted three years, from 2015 to 2018, and eventually became romantic. It did not become widely known until last week, when Overstock took the unusual step of issuing a news release calling attention to it. The release was titled “Overstock.com C.E.O. Comments on Deep State, Withholds Further Comment.”
In that release, which was a response to a report that Mr. Byrne had been involved in the federal inquiry into the 2016 presidential election, he said that he had been helping law enforcement agents, whom he referred to as “Men in Black,” with their “Clinton Investigation” and “Russia Investigation.” That statement was a response to articles by Sara Carter, a journalist and Fox News contributor, about Mr. Byrne’s involvement in the federal inquiry into the 2016 presidential election. Mr. Byrne said he had been helping law enforcement agents — whom he referred to as “Men in Black” — with their “Clinton Investigation” and “Russia Investigation.”
Mr. Byrne said in a separate interview that he had met Ms. Butina at a libertarian convention in Las Vegas in 2015. Over the course of their relationship, he said, Ms. Butina spoke increasingly about meeting or seeking to meet people involved in the campaigns of Hillary Clinton, President Trump and others. That, he said, had made him wary. He eventually began communicating with the F.B.I. about his interactions with her.
Ms. Butina is serving an 18-month prison term after being accused by federal prosecutors of trying to infiltrate powerful political circles in the United States at the direction of the Russian government. She ultimately pleaded guilty to a lesser charge.Ms. Butina is serving an 18-month prison term after being accused by federal prosecutors of trying to infiltrate powerful political circles in the United States at the direction of the Russian government. She ultimately pleaded guilty to a lesser charge.
In his statement last week, Mr. Byrne said that his interactions with federal investigators had been “less about law enforcement and more about political espionage conducted against Hillary Clinton and Donald Trump.”
In a separate news release on Thursday, Overstock said that Jonathan E. Johnson III had been named interim chief executive. The company’s shares were up more than 10 percent on Thursday after Mr. Byrne announced his resignation.In a separate news release on Thursday, Overstock said that Jonathan E. Johnson III had been named interim chief executive. The company’s shares were up more than 10 percent on Thursday after Mr. Byrne announced his resignation.
This article will be updated.This article will be updated.