Peter Coker Sr. Sentenced for Fraud

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CNBC

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Business

Business & Economics

$100 million New Jersey deli fraudster Peter Coker Sr. gets six months in jail

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North Carolina businessman Peter Coker Sr. was sentenced for a scheme to pump up the stock of the infamous $100 million New Jersey deli corporation and a related shell company.

Vanderbilt and Duke universities both invested in Your Hometown Deli in Paulsboro , New Jersey , which drew headlines in 2021 after a hedge fund manager noted it had sales of less than $36,000 over two years .

"I'm terribly sorry for my part. This episode has been the worst time of my life," he said.

Coker Sr. and Patten were arrested in September 2022 .

They were indicted more than a year after CNBC detailed a web of questionable connections between Hometown and E-Waste.

The scheme began when Patten suggested the creation of Hometown as an umbrella corporation to his friend Paul Morina , a high school principal.

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semi-formal

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English

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