NJ deli scam. (Authorities who busted it have tons of info on this one)
SEC Charges Father-Son Duo and Associate in Market Manipulation Schemes Resulting in a New Jersey Deli with a $100 Million Valuation For Immediate Release
2022-172 Washington D.C., Sept. 26, 2022 —
The Securities and Exchange Commission today charged Peter L. Coker Sr., Peter L. Coker Jr., and James T. Patten for their roles in orchestrating fraudulent manipulative securities trading schemes. These schemes included artificially inflating the share price of Hometown International, which operated a New Jersey deli producing less than $40,000 in annual revenue, from approximately $1 per share in October 2019 to nearly $14 per share by April 2021, leading to a grossly inflated market capitalization of $100 million.
In a parallel action, the U.S. Attorney’s Office for the District of New Jersey announced criminal charges against Patten, Coker Sr., and Coker Jr.
The SEC’s investigation, which is ongoing, is being conducted by Cecilia B. Connor of the Philadelphia Regional Office with assistance from Leigh Barrett from the Office of Investigative and Market Analytics. It is being supervised by Assunta Vivolo and Mr. Thompson. The SEC’s litigation will be handled by John V. Donnelly and supervised by Gregory R. Bockin. The SEC appreciates the assistance of the Federal Bureau of Investigation, the U.S. Attorney’s Office for the District of New Jersey, and the Financial Industry Regulatory Authority.
Bangi Inc.Case is SEC’s First Involving
Regulation Crowdfunding
DOCUMENTATION OF THE CASES
SEC Charges Crowdfunding Portal, Issuer, and
Related Individuals for Fraudulent Offerings
Case is SEC’s First Involving Regulation Crowdfunding
FOR IMMEDIATE RELEASE 2021-182 Washington D.C., Sept. 20, 2021 — The Securities and Exchange Commission today charged three individuals and one issuer with conducting a fraudulent scheme to sell nearly $2 million of unregistered securities through two crowdfunding offerings. The SEC also charged the registered funding portal and its CEO, who placed the offerings on the portal’s platform.
And in case you missed it, NHMD went dark for a reason. Expert Market
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