PanamaTimes

Thursday, Mar 28, 2024

Police in Thailand arrested an American man in connection with an alleged fraud that left a New Jersey deli worth $100 million

Police in Thailand arrested an American man in connection with an alleged fraud that left a New Jersey deli worth $100 million

Thai police arrested a man over an alleged fraud involving a firm that owned a New Jersey deli.
Police in Thailand have arrested an American man linked to an alleged stock market conspiracy that left a deli in New Jersey worth about $100 million.

Jirabhop Bhuridej, commissioner of Thailand's Central Investigation Bureau (CIB), told the Bangkok Post that Peter Coker Jr was arrested on January 11 in a hotel room near Surin Beach on the island of Phuket.

Coker Jr was on the run from authorities after he, his father Peter Coker Sr, and James Patten were allegedly involved in boosting the value of shares in Hometown International, which owned the deli, to give the company a valuation of as much as $100 million.

Hometown's only asset was the Paulsboro sandwich shop, which had sales of just $35,000 over a two-year period. The Department of Justice said the owners had "conspired to enrich themselves through a scheme to manipulate securities prices" in its arrest warrant for the men.

Coker Jr was the subject of arrest warrants issued by Interpol, per the Post, after being accused of stock market manipulation and fraud in September.

Bhuridej told the newspaper that the suspects had listed the business on the OTC Marketplace at $1.25 a share before they hired stock traders to manipulate its share price.

Hometown stock soared by more than 900%, and was delisted in 2021 for failing to comply with "over the counter" market rules. E-Waste, another company set up by the group, spiked by almost 20,000%.

The Bangkok Post reported that the CIB had been working with the FBI to locate Coker Jr. Coker Sr. and Patten were arrested in North Carolina in September last year and have pleaded not guilty.

Matt Reilly, a spokesman for the US Attorney's Office in New Jersey, confirmed in an email to CNBC on Wednesday that Coker Jr. had been arrested in Thailand.

The Post reported that Coker Jr. admitted he was the man wanted on the Interpol register.

The US Attorney's Office in New Jersey did not immediately respond to a request for comment from Insider, made outside normal working hours.
Comments

Brad 1 year ago
OTC market is a scam where these people are allowed to finish scamming the people

Newsletter

Related Articles

PanamaTimes
0:00
0:00
Close
Apple warns against drying iPhones with rice
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
Global Law Enforcement Dismantles Lockbit Ransomware Operation
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
The President of Argentina Javier Mile does not fly private, he flies commercial, with the citizens he represents. And they LOVE him for it.
Bitcoin Reaches $50,000 for First Time in Over Two Years
Belo Horizonte: Brazil's Rising Carnival Hotspot for 2024
In El Salvador, the 'Trump of Latin America' stuns the world with a speech slamming woke policing after winning a landslide election
Tucker’s interview with Putin is over 50M views on X within the first 5 hours.
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
President Nayib Bukele has proudly announced El Salvador's remarkable achievement of becoming the safest nation in the Western Hemisphere.
Former Chilean President Sebastian Piñera Dies in Helicopter Crash
This farmer seems to understand science a bit more than the event organizer, Klaus Schwab.
Facebook turns 20: From Mark Zuckerberg's dormitory to a $1trn company
The Coolest Dictator in the World" on the Path to Victory in El Salvador
Macron, France and fake news
Indian-Origin Man 'King' Arrested For Smuggling $16 Million Drugs Into US
Can someone teach Americans that not every person with slanted eyes is Chinese?
Europe's Farmers Feeding the People, Protesting Against Politicians Who Do Nothing for Their Country and Serve Only Themselves at Taxpayers' Expense
Paris Restaurant That Inspired 'Ratatouille' Loses $1.6 Million Worth Of Wine
Brazilian Police Investigate Bolsonaro's Son for Alleged Illegal Spying
Police in Brazil Raid Residence of Bolsonaro Associate Over Allegations of Illegal Spying
Border Dispute Escalates as Texas Governor Vows Increased Razor Wire
OpenAI Enhances ChatGPT-4 Model, Potentially Addressing AI "Laziness" Issue
The NSA finally acknowledges spying on Americans by acquiring sensitive data
Report Reveals Toxic Telegram Group Generating X-Rated AI-Generated Fake Images of Taylor Swift
US Border Patrol States 'No Plans' to Remove Razor Wire Installed in Texas
Bitcoin Experiences Approximately 20% Decline in Value
Klaus Schwab recently appointed himself as the Earth's "trustee of the future."
DeSantis Drops Out, Endorses Trump.
Nikki Haley said former President Trump is "just not at the same level" of mental fitness as he was while president in 2016.
Residents of a southern Mexican town set the government palace on fire in response to the police killing of a young man
Samsung Launches AI-Driven Galaxy S24, Ushering in New Smartphone Era
Judge Questions SEC's Regulatory Overreach in Coinbase Lawsuit
The Ecuador prosecutor who was investigating the television studio attack, has been assassinated.
Is artificial intelligence the solution to cyber security threats?
Vivek Ramaswamy suspends his US election campaign and endorses Trump.
Viral Satire: A Staged Satirical Clip Mistaken as Real Footage from the 2024 World Economic Forum in Davos
The AI Revolution in the Workforce: CEOs at Davos Predict Major Job Cuts in 2024
Ecuador Reports 178 Hostages in Prison Gang Standoff
The Startling Cuban Espionage Case That Has Rattled the US Government
Two Armed Men in Ecuador, Dressed as Batman and The Joker Storm the Streets.
Armed Gang Raids Ecuadorian TV Station Following State of Emergency Declaration
Anti-Democratic Canada: Journalist Arrested for Questioning Canadian Finance Minister on Support of Terrorist Group
Ecuador's 'Most-Wanted' Criminal Vanishes from Prison
Mexican Cartel Supplied Wi-Fi to Locals Under Threat of Fatal Consequences for Non-Compliance
Border Surge Leads to Over 11,000 Migrants Waiting in Northern Mexico
Outsider Candidates Triumph in Latin American Elections
As Argentina Goes to the Polls, Will the Proposal to Replace the Peso with the Dollar Secure Votes?
Fatal Shark Attack Claims Life of Boston Woman Paddleboarding Near Bahamas Resort, According to Police
×