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

Peter L. Coker Sr., Peter Coker Jr., and James T. Patten pled guilty in September 2023 to a securities fraud scheme involving New Jersey's Hometown Deli and related companies.
The defendants conspired to fraudulently inflate stock prices of Hometown International and E-Waste to attract mergers with private firms, despite the deli being a single small losing location and E-Waste having no operations.
The scheme spanned from 2014 to 2022, traded on the OTC Marketplace, caused nearly $5 million in losses including investments from Duke and Vanderbilt, and raised Hometown's stock price over 900%.
At 82 years old, Coker Sr. Received a prison term of six months followed by an additional six months of home confinement, along with a $500,000 fine, as Judge O'Hearn described the case as a "fraudulent scheme from the inception" involving worthless companies.
The convictions highlight complex stock manipulation of nominally high-valued companies with little real business, and both Cokers face deportation after serving sentences, implying ongoing legal and financial fallout.

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