Article: Ex-Overstock CEO Patrick Byrne sells stock, doubles down on crypto

Article - Media, Publications

Ex-Overstock CEO Patrick Byrne sells stock, doubles down on crypto

Leo Jakobson, 20 September 2019

Overstock.com’s founder Patrick Byrne ended his connection with the online retailer he built into a giant in much the same way as he ended his tenure as its CEO a month ago: bizarrely.

Since 2014, Byrne poured more than $200 million of Overstock.com’s resources into a venture capital arm, Medici Ventures, with the goal of turning the online retailer into a blockchain powerhouse, Forbes estimates.

Ten days before he stepped down on August 22, Byrne had forced his PR team to post a release on the company’s investor relations page reading, “Overstock.com CEO Comments on Deep State, Withholds Further Comment.” It delved vaguely into the Hillary Clinton/Russia investigation, President Donald Trump, and Senators Marco Rubio and Ted Cruz, as well as a “senior military officer,” and “the Men in Black.” Lurking unmentioned in the background was his affair with a jailed Russian agent. Continue reading “Article: Ex-Overstock CEO Patrick Byrne sells stock, doubles down on crypto”

Article: Morgan Stanley, 4 others settle forex-rigging case for $111.2M

Article - Media

Morgan Stanley, 4 others settle forex-rigging case for $111.2M

Katherine Dela Cruz

S&P Global, 30 July 2017

Morgan Stanley, Standard Chartered Plc, Bank of Tokyo-Mitsubishi UFJ Ltd., Société Générale SA and RBC Capital Markets LLC agreed to pay a total of $111.2 million to settle a U.S. lawsuit accusing them of manipulating prices in the foreign exchange market, pending court approval.

The lawsuit was filed in 2014 against 12 companies, including Morgan Stanley, for allegedly conspiring to fix artificial prices on foreign exchange markets. In 2015, Standard Chartered, Bank of Tokyo-Mitsubishi, Société Générale and RBC Capital Markets were added as defendants in the case.

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