Memo to Barry Minkow and Sam Antar: Roll Early, Roll Often

    An email Sam Antar sent on May, 2010 puked out of my junk email folder today.  Note that besides addressing it to me,  the board of directors of Overstock,  Overstock’s president Jonathan Johnson,  and our colleague Kevin Moon (who counts IR among his many duties), Sam addressed it to various staff members of the SEC (messieurs Israel, Korb, Simpson, Fitzsimons, and Carnall).

    Note that Sam also sent it to a number of financial writers with whom Sam is on good terms, and whose names will be known to regular readers of DeepCapture:  Joe Nocera and Floyd Norris (both of New York Times), Roddy Boyd, and Gary Weiss, all of whom had an awful lot to say about me until I confronted them in the pages of this website, at which time they reverted to mumbling into their beers rather than engage DeepCapture in debate. Which is, I think, a good indication of how confident they truly were of their own research, argument, and prose: they talked big in the locker-room and at the weigh-in, but pissed themselves stepping onto the mat.

    Being the nice guy I am, I answered Sam, albeit belatedly.

    Sam’s email to me, and my reply, are below.

    =========================================================================

    From: Sam E. Antar [mailto:sam@whitecollarfraud.com]
    Sent: Sunday, May 09, 2010 8:14 AM
    To: Patrick Byrne; Board – Jonathan Johnson; Kevin Moon; Joseph Tabacco
    Cc: ‘Israel, Kenneth D.’; ‘Korb, Norman J.’; ‘Caleb Newquist’; ‘Gary Weiss’; ‘Joe Nocera’; norris@nytimes.com; ‘Aaron Elstein’; ‘William K. Wolfrum’; ‘Felix Salmon’; ‘roddy boyd’; ‘Simpson, Richard’; ‘Fitzsimons, Brian’; ‘Carnall, Wayne’; ‘Corpfin-ENFLiaison’
    Subject: Overstock.com Q2 2010 Conference Call
    Importance: High

    Dear Patrick Byrne and other persons from Overstock.com:

    Overstock.com’s Q2 2010 conference call is scheduled for today at 3 PM ET. I will be calling in. I expect to be permitted to participate in said call and ask relevant questions about Overstock.com. As I recall, in 2005 you allowed a lay person named Phil Saunders AKA Easter Bunny to participate in the call.

    Sam E. Antar

    Web site: www.whitecollarfraud.com

    Blog: www.whitecollarfraud.blogspot.com

    =========================================================================

    From: Patrick Byrne
    Sent: Thursday, March 24, 2011 2:59 PM
    To: ‘Sam E. Antar’; Board – Jonathan Johnson; Kevin Moon; Joseph Tabacco
    Cc: ‘Israel, Kenneth D.’; ‘Korb, Norman J.’; ‘Caleb Newquist’; ‘Gary Weiss’; ‘Joe Nocera’; norris@nytimes.com; ‘Aaron Elstein’; ‘William K. Wolfrum’; ‘Felix Salmon’; ‘roddy boyd’; ‘Simpson, Richard’; ‘Fitzsimons, Brian’; ‘Carnall, Wayne’; ‘Corpfin-ENFLiaison’
    Subject: RE: Overstock.com Q2 2010 Conference Call

    Dear Sam,

    By odd coincidence, your email from last May popped out of our junk email filters today. I say “coincidence” because you have been on my mind of late, given the sudden return to prominence of your esteemed friend Barry Minkow, another felon  who “reformed” himself and became, like you, the recipient of various “It takes one to know one” puff-pieces from the financial media. However, according to today’s WSJ,

    Barry Minkow Charged in Fraud Against Lennar: Federal prosecutors charged former fraud investigator Barry Minkow with conspiracy to commit securities fraud by allegedly disseminating false information in 2009 about home builder Lennar Corp., according to court documents filed Thursday in Miami federal court. The complaint charges that Mr. Minkow, along with a person identified as Conspirator A and others, conspired to ‘artificially manipulate and depress Lennar’s stock’ …. The charge against Mr. Minkow comes with a maximum prison term of five years. …. The criminal complaint also says that Mr. Minkow abused his relationship with federal law-enforcement officials and induced them to open up an investigation into Lennar…”

    Shocked, am I. Shocked, I say. It turns out that Barry’s “reformation” was just another scam, and he actually remained a criminal all along? And his “It takes one to know one” shtick was just a cover he used for smear campaigns to move stock prices? And the financial media did not do their homework before writing their lotion-job profiles of him? And he gulled federal officials into going along for the ride?……….. No, that couldn’t possibly be. That’s just far too whacky a story.

    So that is why unearthing your email today is so serendipitous, Sam. I’ve been thinking of writing you to ask your opinion on this matter. Could a man [] be a convicted felon, reposition himself as contrite and repentant, claim to the public to be using his skills as a swindler to ferret out crime, get the press and the federal government to buy into it, then conduct smear campaigns simply in order to manipulate stocks on someone else’s behalf? In your unique view, how plausible is that scenario, Sam? You seem like just the guy to ask, especially since DeepCapture’s technological forensics establish such good fellowship between Barry and you (and for that matter, Gary Weiss, whose email I note you included above).

    While you’re at it, is there any chance you can explain why Barry Minkow gave sworn testimony that you wired him $100,000 “out of nowhere,” and then, wired him another $150,00 (see Minkow transcript, 10:39 to 10:46)? Especially as you are a bankrupt and hold yourself out as virtually penniless, this seems a little odd: Do you often wire people $250,000 for purposes they cannot define?

    In December the Florida judge found that Barry actually did not do any research, but just smeared. Yet Barry also gave  testimony that Whitney Tilson paid $40,000 to Barry.  It seems odd that someone like Whitney would rely on research from Barry, especially as (per the judge) Barry’s research is phony. Any idea what that payment was for? Whitney Tilson has become oddly unresponsive to my emails.

    Remember, Sam: Roll early, roll often. Oh, but you know that already.

    With hopes of big things in your future, I remain,

    Your friend,

    Patrick M. Byrne

    Journalist, DeepCapture.com

    PS You may have been busy last week, Sam, and missed my two essays on these matters. Enjoy.

    March 17: Today’s “If Only There Were a Pattern” Moment: Sam Antar Crony Barry Minkow Still a Crook. Who Knew?

    March 17: The Honorable Gill Freeman Throws Book at Barry Minkow, Nicks Paymaster Sam Antar. Plus, A Question for Whitney Tilson, Minkow Paymaster #2

    Today a May, 2010 email from Sam Antar puked out of my junk email folder. Note that, besides addressing it to me, the board of directors of Overstock, Overstock’s president Jonathan Johnson, and our colleague Kevin Moon (who counts IR among his many duties), Sam addressed it to various staff members of the SEC (messieurs Israel, Korb, Simpson, Fitzsimons, and Carnall).

    Sam also sent it to a number of financial writers with whom Sam is on good terms, and whose names will be known to regular readers of DeepCapture: Joe Nocera and Floyd Norris (both of New York Times), William Wolfrum, Roddy Boyd, and Gary Weiss, all of whom had an awful lot to say about me, until I confronted them in the pages of this website, at which time they reverted to mumbling into their beers rather than continue (and thereby have to mention DeepCapture). Which is, I think, a good indication of how confident they truly are of their research, argument, and prose in the face of DeepCapture’s.

    Being the nice guy I am, I answered Sam, albeit belatedly.

    From: Sam E. Antar [mailto:sam@whitecollarfraud.com]
    Sent: Sunday, May 09, 2010 8:14 AM
    To: Patrick Byrne; Board – Jonathan Johnson; Kevin Moon; Joseph Tabacco
    Cc: ‘Israel, Kenneth D.’; ‘Korb, Norman J.’; ‘Caleb Newquist’; ‘Gary Weiss’; ‘Joe Nocera’; norris@nytimes.com; ‘Aaron Elstein’; ‘William K. Wolfrum’; ‘Felix Salmon’; ‘roddy boyd’; ‘Simpson, Richard’; ‘Fitzsimons, Brian’; ‘Carnall, Wayne’; ‘Corpfin-ENFLiaison’
    Subject: Overstock.com Q2 2010 Conference Call
    Importance: High

    Dear Patrick Byrne and other persons from Overstock.com:

    Overstock.com’s Q2 2010 conference call is scheduled for today at 3 PM ET. I will be calling in. I expect to be permitted to participate in said call and ask relevant questions about Overstock.com. As I recall, in 2005 you allowed a lay person named Phil Saunders AKA Easter Bunny to participate in the call.

    Sam E. Antar

    Web site: www.whitecollarfraud.com

    Blog: www.whitecollarfraud.blogspot.com

    From: Patrick Byrne
    Sent: Thursday, March 24, 2011 2:59 PM
    To: ‘Sam E. Antar’; Board – Jonathan Johnson; Kevin Moon; Joseph Tabacco
    Cc: ‘Israel, Kenneth D.’; ‘Korb, Norman J.’; ‘Caleb Newquist’; ‘Gary Weiss’; ‘Joe Nocera’; norris@nytimes.com; ‘Aaron Elstein’; ‘William K. Wolfrum’; ‘Felix Salmon’; ‘roddy boyd’; ‘Simpson, Richard’; ‘Fitzsimons, Brian’; ‘Carnall, Wayne’; ‘Corpfin-ENFLiaison’
    Subject: RE: Overstock.com Q2 2010 Conference Call

    Dear Sam,

    By odd coincidence, your email from last May popped out of our junk email filters today. I say “coincidence” because you have been on my mind of late, given the sudden return to prominence of your esteemed friend Barry Minkow, another felon  who “reformed” himself and became, like you, the recipient of various “It takes one to know one” puff-pieces from the financial media. However, according to today’s WSJ,

    Barry Minkow Charged in Fraud Against Lennar: Federal prosecutors charged former fraud investigator Barry Minkow with conspiracy to commit securities fraud by allegedly disseminating false information in 2009 about home builder Lennar Corp., according to court documents filed Thursday in Miami federal court. The complaint charges that Mr. Minkow, along with a person identified as Conspirator A and others, conspired to ‘artificially manipulate and depress Lennar’s stock’ …. The charge against Mr. Minkow comes with a maximum prison term of five years. …. The criminal complaint also says that Mr. Minkow abused his relationship with federal law-enforcement officials and induced them to open up an investigation into Lennar…”

    Shocked, am I. Shocked, I say. It turns out that Barry’s “reformation” was just another scam, and he actually remained a criminal all along? And his “It takes one to know one” shtick was just a cover he used for smear campaigns to move stock prices? And the financial media did not do their homework before writing their lotion-job profiles of him? And he gulled federal officials into going along for the ride?……….. No, that couldn’t possibly be. That’s just far too whacky a story.

    So that is why unearthing your email today is so serendipitous, Sam. I’ve been thinking of writing you to ask your opinion on this matter. Could a man could be a convicted felon, reposition himself as contrite and repentant, claim to the public to be using his skills as a swindler to ferret out crime, get the press and the federal government to buy into it, then conduct smear campaigns simply in order to manipulate stocks on someone else’s behalf? In your unique view, how plausible is that scenario, Sam? You seem like just the guy to ask, especially since DeepCapture’s technological forensics establish such good fellowship between Barry and you (and for that matter, Gary Weiss, whose email I note you included above).

    While you’re at it, is there any chance you can explain why Barry Minkow gave sworn testimony that you wired him $100,000 “out of nowhere,” and then, wired him another $150,00 (see Minkow transcript, 10:39 to 10:46)? Especially as you are a bankrupt and hold yourself out as virtually penniless, this seems a little odd: Do you often wire people $250,000 for purposes they cannot define?

    In December the Florida judge found that Barry actually did not do any research, but just smeared. Yet Barry also gave  testimony that Whitney Tilson paid $40,000 to Barry.  It seems odd that someone like Whitney would rely on res

    Today a May, 2010 email from Sam Antar puked out of my junk email folder.  Note that, besides addressing it to me,  the board of directors of Overstock,  Overstock’s president Jonathan Johnson,  and our colleague Kevin Moon (who counts IR among his many duties), Sam addressed it to various staff members of the SEC (messieurs Israel, Korb, Simpson, Fitzsimons, and Carnall).

    Sam also sent it to a number of financial writers with whom Sam is on good terms, and whose names will be known to regular readers of DeepCapture:  Joe Nocera and Floyd Norris (both of New York Times), William Wolfrum, Roddy Boyd, and Gary Weiss, all of whom had an awful lot to say about me, until I confronted them in the pages of this website, at which time they reverted to mumbling into their beers rather than continue (and thereby have to mention DeepCapture). Which is, I think, a good indication of how confident they truly are of their research, argument, and prose in the face of DeepCapture’s.

    Being the nice guy I am, I answered Sam Antar today, albeit belatedly. Below I reproduce Sam’s email to me, and my reply.

    From: Sam E. Antar [mailto:sam@whitecollarfraud.com]
    Sent: Sunday, May 09, 2010 8:14 AM
    To: Patrick Byrne; Board – Jonathan Johnson; Kevin Moon; Joseph Tabacco
    Cc: ‘Israel, Kenneth D.’; ‘Korb, Norman J.’; ‘Caleb Newquist’; ‘Gary Weiss’; ‘Joe Nocera’; norris@nytimes.com; ‘Aaron Elstein’; ‘William K. Wolfrum’; ‘Felix Salmon’; ‘roddy boyd’; ‘Simpson, Richard’; ‘Fitzsimons, Brian’; ‘Carnall, Wayne’; ‘Corpfin-ENFLiaison’
    Subject: Overstock.com Q2 2010 Conference Call
    Importance: High

    Dear Patrick Byrne and other persons from Overstock.com:

    Overstock.com’s Q2 2010 conference call is scheduled for today at 3 PM ET. I will be calling in. I expect to be permitted to participate in said call and ask relevant questions about Overstock.com. As I recall, in 2005 you allowed a lay person named Phil Saunders AKA Easter Bunny to participate in the call.

    Sam E. Antar

    Web site: www.whitecollarfraud.com

    Blog: www.whitecollarfraud.blogspot.com

    From: Patrick Byrne
    Sent: Thursday, March 24, 2011 2:59 PM
    To: ‘Sam E. Antar’; Board – Jonathan Johnson; Kevin Moon; Joseph Tabacco
    Cc: ‘Israel, Kenneth D.’; ‘Korb, Norman J.’; ‘Caleb Newquist’; ‘Gary Weiss’; ‘Joe Nocera’; norris@nytimes.com; ‘Aaron Elstein’; ‘William K. Wolfrum’; ‘Felix Salmon’; ‘roddy boyd’; ‘Simpson, Richard’; ‘Fitzsimons, Brian’; ‘Carnall, Wayne’; ‘Corpfin-ENFLiaison’
    Subject: RE: Overstock.com Q2 2010 Conference Call

    Dear Sam,

    By odd coincidence, your email from last May popped out of our junk email filters today. I say “coincidence” because you have been on my mind of late, given the sudden return to prominence of your esteemed friend Barry Minkow, another felon  who “reformed” himself and became, like you, the recipient of various “It takes one to know one” puff-pieces from the financial media. However, according to today’s WSJ,

    Barry Minkow Charged in Fraud Against Lennar: Federal prosecutors charged former fraud investigator Barry Minkow with conspiracy to commit securities fraud by allegedly disseminating false information in 2009 about home builder Lennar Corp., according to court documents filed Thursday in Miami federal court. The complaint charges that Mr. Minkow, along with a person identified as Conspirator A and others, conspired to ‘artificially manipulate and depress Lennar’s stock’ …. The charge against Mr. Minkow comes with a maximum prison term of five years. …. The criminal complaint also says that Mr. Minkow abused his relationship with federal law-enforcement officials and induced them to open up an investigation into Lennar…”

    Shocked, am I. Shocked, I say. It turns out that Barry’s “reformation” was just another scam, and he actually remained a criminal all along? And his “It takes one to know one” shtick was just a cover he used for smear campaigns to move stock prices? And the financial media did not do their homework before writing their lotion-job profiles of him? And he gulled federal officials into going along for the ride?……….. No, that couldn’t possibly be. That’s just far too whacky a story.

    So that is why unearthing your email today is so serendipitous, Sam. I’ve been thinking of writing you to ask your opinion on this matter. Could a man could be a convicted felon, reposition himself as contrite and repentant, claim to the public to be using his skills as a swindler to ferret out crime, get the press and the federal government to buy into it, then conduct smear campaigns simply in order to manipulate stocks on someone else’s behalf? In your unique view, how plausible is that scenario, Sam? You seem like just the guy to ask, especially since DeepCapture’s technological forensics establish such good fellowship between Barry and you (and for that matter, Gary Weiss, whose email I note you included above).

    While you’re at it, is there any chance you can explain why Barry Minkow gave sworn testimony that you wired him $100,000 “out of nowhere,” and then, wired him another $150,00 (see Minkow transcript, 10:39 to 10:46)? Especially as you are a bankrupt and hold yourself out as virtually penniless, this seems a little odd: Do you often wire people $250,000 for purposes they cannot define?

    In December the Florida judge found that Barry actually did not do any research, but just smeared. Yet Barry also gave  testimony that Whitney Tilson paid $40,000 to Barry.  It seems odd that someone like Whitney would rely on research from Barry, especially as (per the judge) Barry’s research is phony. Any idea what that payment was for? Whitney Tilson has become oddly unresponsive to my emails.

    Remember, Sam: Roll early, roll often. Oh, but you know that already.

    With hopes of big things in your future, I remain,

    Your friend,

    Patrick M. Byrne

    Journalist, DeepCapture.com

    PS You may have been busy last week, Sam, and missed my two essays on these matters. Enjoy.

    March 17: Today’s “If Only There Were a Pattern” Moment: Sam Antar Crony Barry Minkow Still a Crook. Who Knew?

    March 17: The Honorable Gill Freeman Throws Book at Barry Minkow, Nicks Paymaster Sam Antar. Plus, A Question for Whitney Tilson, Minkow Paymaster #2

    earch from Barry, especially as (per the judge) Barry’s research is phony. Any idea what that payment was for? Whitney Tilson has become oddly unresponsive to my emails.

    Remember, Sam: Roll early, roll often. Oh, but you know that already.

    With hopes of big things in your future, I remain,

    Your friend,

    Patrick M. Byrne

    Journalist, DeepCapture.com

    PS You may have been busy last week, Sam, and missed my two essays on these matters. Enjoy.

    March 17: Today’s “If Only There Were a Pattern” Moment: Sam Antar Crony Barry Minkow Still a Crook. Who Knew?

    March 17: The Honorable Gill Freeman Throws Book at Barry Minkow, Nicks Paymaster Sam Antar. Plus, A Question for Whitney Tilson, Minkow Paymaster #2

    This post was written by:

    - who has written 226 posts on Deep Capture.

    I am a concerned citizen who has been focused on systemic instability since 2004.

    Contact the author

    8 Responses to “Memo to Barry Minkow and Sam Antar: Roll Early, Roll Often”

    1. a la carte says:

      A nasty problem. 

    2. harveywalbinger says:

      “… get the press and the federal government to buy into it,”

      How diplomatic of you.

    3. vexas says:

      “Luke: What’s in there?
      Yoda: Only what you take with you.”

      -Yoda

    4. maximus says:

      Time for a toast. I’m lovin this.

    5. Jeremiah 9:24 says:

      “With hopes of big things in your future, I remain,
      Your friend,
      Patrick M. Byrne
      Journalist, DeepCapture.com”

      HA HA! I love it…. Can’t help but wonder whether Dr. B was thinking about Sam’s future cell mate when making that little comment….

    6. this is not just the usual story but aside of their case. we can learn to avoid this incidents happens to us.

    7. You’ve got a very good blog that I am looking for.

    Trackbacks/Pingbacks

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