Politics
Father, son plead guilty in $100 million New Jersey deli stock scheme

Published Thu, Dec 19 2024•1:55 PM EST | Updated Thu, Dec 19 20247:49 PM EST

Dan Mangan
@_DanMangan

Key Points
• A father and son pleaded guilty to orchestrating a brazen stock manipulation scheme involving a small New Jersey deli whose parent company had an improbable market capitalization of $100 million.
• The men, Peter Coker Sr. and Peter Coker Jr., are scheduled to be sentenced next spring in the case in U.S. District Court in Camden, New Jersey.
• A third defendant, James Patten, previously pleaded guilty to the same charges of securities fraud and conspiracy to commit securities fraud in connection with the company once known as Hometown International.

A father and son pleaded guilty Thursday to orchestrating a brazen stock manipulation scheme involving a small, money-losing New Jersey deli whose publicly traded parent company had an improbable market capitalization of $100 million.

The men, Peter Coker Sr. and his former fugitive son Peter Coker Jr., are scheduled to be sentenced next spring in the case in U.S. District Court in Camden, New Jersey, according to federal prosecutors.

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