The CEO of Overstock.com has admitted he was sleeping with convicted Russian gun rights activist Maria Butina, who he labelled a Red Sparrow, but he claims he only got involved with her because he was an informant for the FBI.

Patrick Byrne made the revelation about the woman, he seemingly claimed used sex to obtain information, in an article published on SaraACarter.com last month.

He claims after meeting her at Freedom Festival in 2015 she suggested continuing contact under the guise of a romantic relationship and he contacted the FBI but they were skeptical she was of interest.

She later revealed her feelings were true and he stayed in contact with her, believing she should be investigated but it led to an alleged revelation of 'political espionage against Hillary Clinton, Ted Cruz, Marc Rubio and Donald Trump'.