Former Crazy Eddie CFO and sometime Overstock.com (NASDAQ: OSTK) critic Sam E. Antar has posted an item on his blog accusing that company of a "stock market manipulation scheme."

Read Overstock.com and Patrick Byrne: Anatomy of a Stock Market Manipulation Scheme – First Quarter Earnings Release here.

In the post, Antar alleges that the first quarter earnings press release issued on Friday was "intentionally timed with expiration of options to manipulate the market (i.e., as a "short squeeze") and to bury and downplay grave news of a criminal investigation in California."

Analyzing the company's numbers, Antar points out that the company's revenue from its auction business declined more than 44% year-over-year, in spite of CEO Patrick Byrne's claim as recently as January that "things look better from here" for the auction site.

Antar accuses the company of violations of SEC rule 10b-5: interesting given that the company is currently the target of an SEC investigation.

Here are a few of my past posts on the company that one securities lawyer affectionately refers to as OverSchlock.com:

Shop at Overstock, Support Cyberstalking.
Patrick Byrne, Hypocrite
Patrick Byrne Defending USXP Fraud?
More Goofy Press Releases
Byrne overpaid at $0?

This Wednesday at 10 PM EDT, CNBC will feature an exclusive interview with Eddie Antar, the CEO of the infamous Crazy Eddie fraud of the 1980s. Herb Greenberg will also interview Sam E. Antar, the former CFO of the company turned white-collar crime expert and blogger. The interview will take place on Business Nation, and will include a conversation with Sam and Eddie together for the first time in years. This should be particularly interesting because Sam became a witness against his cousin in the case and, when I asked him about the interview, Sam told me "It nearly came to blows."

In this weekend's Wall Street Journal [subscription required], Herb Greenberg wrote about the interview and offered some advice from Eddie Antar for former Comverse Technology (OTC: CMVT) Chief Executive Jacob "Kobi" Alexander: "All the money in the world is not worth a day in prison -- ain't worth one day." If he hadn't broken the law, he says, "I'd be a Best Buy today, or I would have been sought to be bought out by many companies. I'd be a billionaire today. I had around $100 million that [the government] took from me. That was cash in the bank. It was everything I had. Can you imagine what that would be worth today? I blew it big time."

Be sure to tune in to CNBC's Business Nation on Wednesday. It should be interesting.