Overstock.com Inc. Chief Executive Officer Patrick M. Byrne today resigned from the company he led for 20 years after comments he made about his alleged role in assisting the “deep state” caused the e-retailer’s share price to plummet.

The controversy started with an article published by investigative reporter Sara Carter Aug. 12 in which she wrote, quoting an anonymous U.S. official, that Byrne had provided documents to the U.S. Department of Justice and Federal Bureau of Investigation concerning alleged Russian election manipulation, Hillary Clinton and the Clinton Foundation.

Byrne confirmed that the report was accurate, saying in a statement that he did so because he believed he was helping “legitimate law enforcement efforts.” But that’s when things started to become arguably strange.

Referring to government agents as “Men in Black,” Byrne said that “having lived in places lacking Rule of Law and having witnessed the consequences of its absence, I plan on sitting back and watching the United States Department of Justice re-establish the Rule of Law in our country.”

Complicating the already colorful story even further, Bryne claims to have previously been in a romantic relationship with someone called Maria Butina who turned out to be a Russian spy and is currently serving jail time for conspiracy to act as a foreign agent.

In the three days following Bryne’s statement, Overstock shares plunged as much as 36% because, according to CNBC, investors understandably were concerned about Byrne’s well-being.

“Though patriotic Americans are writing me in support, my presence may affect and complicate all manner of business relationships, from insurability to strategic discussions regarding our retail business,” Byrne said in a letter to shareholders. “Thus, while I believe that I did what was necessary for the good of the country, for the good of the firm, I am in the sad position of having to sever ties with Overstock, both as CEO and board member, effective Thursday August 22.”

Jonathan Johnson, the current president of Overstock‘s blockchain investment arm Medici Ventures, has been appointed interim CEO of the company.

Founded in 1997 and acquired by Byrne in 1999, Overstock started as a seller of surplus and returned merchandise before branching out into various e-commerce segments. In more recent times the company, driven by Byrne has embraced blockchain technology and cryptocurrency, even going down the path of an initial coin offering in December 2017.

That Johnson was appointed as interim chairman shouldn’t come as a great surprise. While Overstock’s e-commerce business has struggled, the company itself has become a significant investor in blockchain companies, including Bitt, VinX and PeerNova.

Photo: Overstock Coliseum/Wikimedia Commons