- Three men were charged with various crimes, including securities fraud, in a scheme involving a small-town New Jersey deli.
- Your Hometown Deli was operated under an umbrella company called Hometown International. It became known as the $100 million deli, reflecting its owner’s bizarrely huge market value.
- James Patten, Peter Coker Sr. and Peter Coker Jr. face stiff prison sentences and fines for allegedly manipulating markets and defrauding investors.
Three men were charged with fraud and other crimes in a scheme involving a company that was worth $100 million in the stock market despite having only a small-town New Jersey deli to its name, federal authorities said Monday.
The men – James Patten, 63, of Winston-Salem, North Carolina; Peter Coker Sr., 80, of Chapel Hill, North Carolina; and Peter Coker Jr., 53, of Hong Kong – were charged with 12 counts, including conspiracy to commit securities fraud, securities fraud and conspiracy to manipulate securities prices. Patten and Coker Sr. were arrested and appeared in a North Carolina court on Monday. They are expected to appear in New Jersey federal court at a later date. Coker Jr. is still at large.
www.cnbc.com/2022/09/26/three-men-charged-with-fraud-in-100-million-new-jersey-deli-scheme.html