A New Party Heard From: Clyde Eltzroth, Bloomberg (UPDATED)

Sam Antar pled guilty to crimes cited in this Wanted Poster

The sounds of squealing could be heard over the low hum of the air recirculation machinery in the drab, windowless federal interview room.  “Please!” Sam Antar wimpered. “Let me write one more smear. Let me feel like I’m a player, one last time!”

The federal agent spoke sharply: “Silence!”  She turned to look at her colleagues with bemusement.  “Jesus, what is it with these finance gerbils? I haven’t seen someone break this pitifully since that bookkeeper in Reno. ” She set aside her Nutcracker Flail, took a long pull on her Gaulioses, and said, “OK, let’s give Sam the night off. We’ll get him cleaned up for the judge in the morning.”

With that, Sam Antar, still restrained in straightjacket, was hauled back to the Shower Room, where he spent the night toe-writing in excrement on the linoleum.

Which would be altogether unremarkable, were it not for the fact that within hours, a Bloomberg reporter named Clyde Eltzrothis called, asking me to comment on it.

No kidding, after everything that has happened, there is still someone, somewhere, who does not get the joke. By all appearances Clyde is  new to the game, may not know the back-story, and therefore deserves the benefit of the doubt (that is to say, I am not going to read too much into Clyde’s calling me within hours of the appearance of Sam’s latest). Some gentle coaching is in order.

Actual Clyde Eltzroth avatar from Google Profiles

Fortunately, gentle coaching is my strong suit. So, Clyde Eltzroth, here are those comments you requested:

1) It is not our job to host DA’s on a no-limits fishing trip, especially when they have not acted in good faith in the past.

2) I do not believe that Mr. Antar is a ‘reformed’ white collar felon.  His co-worker, Barry Minkow, just pled guilty to felonies associated with the very type of conduct in which felon Antar continues to engage.

3) The outrage expressed by Sam Antar and Gary Weiss is selective, disingenuous, and hypocritical.

To fully appreciate Sam Antar and his methods, Clyde, you should read “Why Are Fortune Magazine and the New York Financial Media Suddenly Pimping Sam Antar the Crook? Note that besides angering a sitting state Attorney General enough to write a letter excoriating Sam Antar and warning that, “In light of Mr. Antar’s background as a convicted white collar criminal, we believe that the public should carefully scrutinize and objectively examine any public statements Mr. Antar makes,” in 2007 Sam Antar famously posted the names, ages, and addresses of  6 and 9 year old girls on an Internet message board.

Sam Antar threatens two little girls

Gary Weiss has performed legendary sock-puppetting around the Internet. It became the subject of the greatest Wikipedia scandal in its history, as was ably reported in The Register:

4) Judd Bagley is the good guy. He is a journalist who helped map out how a network of dirty hedge fund operators and their coterie of shill journalists (including Barry Minkow and Sam Antar) work together to manipulate stocks (as Barry Minkow has just pled guilty to). Judd mapped that network. You can read about it here: The stories behind the Rocker and Gradient lawsuit story

Note that Barry Ritholt made the same accusations against Judd that Sam Antar is now making. Unfortunately for Ritholt, he went on CNN Radio, at which point CNN surprised Barry by bringing Judd on air, giving Barry a chance to make his allegations against Judd, live. Barry, who moments before was full of righteous bluster, folded like a cheap chair. Really, you should listen to it, as Ritholtz went from accusation-overdrive to reverse-and-back-away in some sort of record for cravenness. Podcast: Barry Ritholtz and a tale of two media

Now, Clyde Eltzroth, I have a request for you. You asked me for response to Sam Antar’s latest, and response I have provided. I believe that journalistic ethics require that, when you write about this, you need mention where my response was made: DeepCapture.com.

Good luck with that.


It turns out that Clyde published his story on Bloomberg precisely 10 minutes after contacting someone at Overstock to let us know he was writing this story.

How’s that for service?

By Clyde Eltzroth

April 12 (Bloomberg) — Overstock.com fell after White Collar Fraud blog questioned whether OSTK is obstructing allegations of consumer fraud in California.

Blog author Sam Antar says he’s a convicted felon, former CPA, former CFO of Crazy Eddie’s; Antar said he doesn’t own any OSTK securities long or short

OSTK had no immediate response

OSTK short interest 6.7% of float: Data Explorers

OSTK down 16% YTD

Link: http://whitecollarfraud.blogspot.com/

Link to Company News:{OSTK US <Equity> CN <GO>}

For Related News and Information:

Top Stories:{TOP<GO>}

To contact the editor responsible for this story:

Clyde Eltzroth at +1-212-617-1879 or

[email protected]

  1. Sam won’t allow the following comment on his little blog:
    “Sam, I have two questions:

    1- why haven’t you paid that $400 tax bill to the state of NY, when you’ve given $250,000 to fraudster Barry Minkow?

    2- if Byrne is open to criticism for appearing in a photo next to an alleged small time ponzi schemer, what are we to conclude about you, a business partner of Barry Minkow, an admitted (two time) stock fraudster?

    If this comment sees the light of day, I’ll be shocked.”

  2. Unfortunately for Patrick it’s him not Sam that is being investigated by the State of California. Attacking and stalking those who criticize you like some pathetic school yard bully is one thing but attacking the California District Attorney is quite another. How will Judd explain to his daughter why the worlds greatest dad is in jail? Probably by. comparing himself to Stephen Biko and Patrick Byrne to Nelson Mandella.

      1. Greenday is not Gary Weiss. He’s an equally pathetic figure by the initials RCF. I sorta called him out on some sleazy anonymous behavior and he got bothered by that, now spending his time on the attack. Indeed, he has mountains in common with Gary Weiss, but it’s not him.

        1. Judd Bagley is an employee of Overstock.com and thus is subject to SEC rules. He has been reported to the SEC and he has been made aware that if his behavior continues it will also be reported to the Utah police who I’m sure already know him well.

          1. “Judd Bagley is an employee of Overstock.com and thus is subject to SEC rules. He has been reported to the SEC and he has been made aware that if his behavior continues it will also be reported to the Utah police who I’m sure already know him well” ………. IS THIS CLOWN SERIOUS or SERIOUSLY DELUSIONAL? ……… Perhaps CAPTURED! He thinks the “Lame Duck SEC” is going to come to his rescue regarding this article? …. AAAhhh! … In light of what has happened in the last fifteen years (starting with PSLRA of 1995) some of us know that the SEC is USELESS and CAPTURED!

  3. $2 bet on Patrick to win. 

    His mouth will not overload his ass. 

    sometimes People will put nose so far up your ass
    it makes it harder to detect dishonesty. 

  4. Hey, Greenjumpsuit (soon to be orange like Barry’s) How come Sam did’nt write about Frontpoints chicanery and the crimnal exploits and such. Too busy going after the real criminals like Patrick and Overstock huh? I understand.. so many “criminals and not enough ink” LOL!!! His time is coming and I can’t wait.

    1. “Too busy going after the real criminals like Patrick and Overstock huh? I understand.. so many “criminals and not enough ink”

      We’ll soon see if Patty is a real criminal or not. By the way, misleading your customers into thinking that they are getting a deal when they are not is against the law in the state of California.

      Stonewalling the State of California in their investigation of you and throwing a public tizzy when a member of the media calls you and asks you to comment is just plain stupid. It’s akin to swearing at a cop who pulls you over. It never ends well.

  5. This is mainstream US news. It may seem off topic until part 3 which talks about naked shorting, but it is clear the rest of the world is ready to peel the money printing parasites out of the economic system.


    It’s worth watching all four episodes all the way through as it will make you rethink your world view.

    2008 was about Wallstreet being cut off by the rest of the world that doesn’t believe private citizens should print shares and money out of thin air.

    Change is in the wind and I believe big change is coming by the end of the year.

    Manage your portfolios appropriately and make sure you own certs. and physical gold and silver.

  6. The word indictment referencing GS and even Baby face Lloyd just uttered on CNBC….THE MONEY HONEY’S ARE JUST SHOCKED! Shocked I say!

  7. A smart parasite doesn’t kill the host. The tapeworm can suck the life force of the victim for decades because the host doesn’t know it is there.

    Wallstreet is dumber than a parasite. They are limiting their own profits by naked shorting everything from companies to corporate, state and federal debt into oblivion. Today they were dumb enough to try to kill the dollar. A falling dollar is a direct tax on every citizen.

    The pitchforks, torches and guillotines are ready and Wallstreet is too stupid to realize they’ve irritated the host enough that they are going to be eradicated.

    It’s time to peel these parasites from our society, including the deep captured regulators and politicians who are on their dole.

    Clearing doesn’t have to be complicated and commissions shouldn’t be so high. It should be a government service, like the post office. You place your trade and pay a few cents instead of tens of dollars and end up with a real share. Shorting is allowed, but limited to available inventory and the lenders are compensated.

    Change is in the air and there is an avalanche of change coming.

  8. ‘No Shit Sherlock’ Dept:

    Crooked Giants Dodge SEC Penalties

    Agency routinely grants waivers for harshest punishments

    (NEWSER) – Financial giants accused of swindling investors have been successfully dodging the SEC’s harshest penalties by arguing that the law shouldn’t apply to them. Firms including Citigroup, Bank of America, and AIG have recently sought and received waivers from regulations requiring lawbreakers to close their mutual fund businesses. Waivers have been granted to repeat regulation offenders and even firms that lied on their waiver application forms, a McClatchy investigation finds.

  9. There’s Another Crisis Coming as Long as Banks Remain Above the Law: Bill Black..

    A federal jury convicted Lee Farkas, the former Chairman of Taylor, Bean & Whitaker Mortgage Corp., Tuesday for his role in a $2.9 billion fraud that led to the fall of his company and that of former Top 50 bank Colonial Bank. Farkas was found guilty on all 14 counts of conspiracy and bank, wire and securities fraud. He now faces life in prison.

    More than two years after the financial crisis, Farkas is arguably the only major player in the mortgage industry to face criminal charges. William Black, professor of economics and law at the University of Missouri-Kansas City School of Law, calls the lack of prosecutions a disgrace, and he blames policymakers.

    It’s a matter of “unofficial” policy, he claims. “The de facto policy right now is elite frauds go free if they’re in banking because the whole sector is too fragile. That is significantly insane. It will produce the next crisis.” Essentially he’s saying officials think it’s more important for the banking sector to make money than it is for them to follow the law.

    In the accompanying interview with Aaron Task, he notes that Treasury or White House officials are fully aware of the fraud, citing FBI testimony as far back as 2004 about rampant fraud in the mortgage market. In fact, Black says the problems banks are now facing with foreclosure paperwork are simply a result of the foreclosure frauds that were never addressed. “Every time you fail to root out the frauds, the fraud simply migrates. It migrates from the lending process to the foreclosure and servicing process.”


  10. This is all about two versions of how humanity should be ruled.

    1. A royalty of elite print money and shares out of thin air through fractional reserve cash / shares / commodity / debt / derivatives counterfeiting ponzi schemes and they get value the rest of us have to work for. They use this advantage to turn us into slaves on a treadmill who can never make ends meet because the system is perpetually short and there isn’t enough value left for the little guy to live because of the free value that went to the scammer criminal class.

    2. Shares are in supply set by the company and money is issued by local governments and the masses control the system through an idea called democracy.

    Currently, America is following 1.


    It’s time to peel these parasites out of our economy before they kill the host, the people that actually work for a damn living.

    It is estimated for every bankster elite parasite, there are 700,000,000 honest, hard working people who don’t want war and want to help their fellow human being.

    Whether it is the silver bullet through their heart of buying a silver coin or supporting sites like Patrick’s, we are winning and we have the chance to make the world a much better place, but we need to completely eradicate this fractional reserve Madoff ponzi scheme idea from our society and replace it with a puritan idea where people that work hard and save are rewarded for their contribution to society.

    There’s more of us than them and we need to “man up” and stop being afraid of these scum and fix the system.

  11. Why the USA is totally screwed, part 99:

    WASHINGTON — On Thursday, President Obama unveiled a new working group to combat any fraud or manipulation in the oil and energy markets that may be contributing to near-record gas prices. But some economists and market experts worry that by focusing on criminal activity, Obama is shrugging off a much bigger problem: rampant Wall Street speculation in commodities markets that has helped drive up food and energy prices in the past.


  12. You have that brilliant idea on discussing that matter.
    I think anyone here can help me on my problem regarding on legal issues.
    I have a problem and i think this is the good place where i can have the answer.

  13. Mafia on mainstreet and wallstreet:

    (Newser) – A Los Angeles suburb with a big hole in its finances has found $4.5 million in secret pension funds a disgraced city manager set up for himself and his cronies. Robert Rizzo and his former assistant, Angela Spaccia, created the funds to allow public employees in Bell—especially themselves—get around government limits on public employee pensions, reports the Los Angeles Times.


  14. One would think that with all the attention that these illegal tactics are getting from publications far and wide also with Pastor Minkow going down like Sonny Liston against Mohammed Ali this would have stopped.. but I guess since the chances of them being prosecuted or indicted, they just consider it the cost of doing business. They are NOT afraid of our Captured Regulators of DOJ.


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