Overstock.com CEO Patrick Byrne resigns after revealing involvement in FBI-Russia probe

Overstock.com Inc Chief Executive Officer Patrick Byrne resigned on Thursday, a week after saying he was involved in a Federal Bureau of Investigation probe into Russia and former U.S. presidential candidate Hillary Clinton.

"In July I came forward to a small set of journalists regarding my involvement in certain government matters," Byrne said in a letter to shareholders.

"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," he added.