Owners of a small deli are charged with fraud for valuing business at $100 million

U.S. officials have announced fraud charges against three men who, they allege, orchestrated a scheme to inflate the market value of the company that owned Hometown Deli, a small delicatessen in New Jersey. In this photo illustration, a person views online information for the now-shuttered deli.U.S.

Patten and Coker Sr., who were arrested on Monday, are scheduled to appear in federal court in the Middle District of North Carolina. They'll also appear in federal court in New Jersey at an undetermined date. Coker Jr. is still at large. The delicatessen, called Hometown Deli, was located in Paulsboro, N.J., and has since closed. It was known for its cheesesteaks and bagels but also for the fact that it was publicly traded on the stock market, where it was valued at over $100 million.

"We allege that the defendants' brazen schemes resulted in the artificial inflation of the stock price of two publicly traded companies with little to no annual revenues," Scott Thompson, one of the agency's associate directors of enforcement, said."Such manipulative schemes diminish the trust investors must have in the integrity of the markets, and we will pursue those who engage in such wrongdoing.

At the time, no workers at the deli would speak to NPR. Additionally, James Patten and Peter Coker Sr. have not returned any messages seeking comment.

When did Trump buy a deli?

MsMariaT Did they go to trump university?

Trumpy.

Our business is the same--the employees work their tails off, everyone likes us but the owners bleed us damn dry.

Eric Trump in on that?

Sounds like Trump Inc. real estate properties.

If it said, ' two men and their sister' I would know everything I needed to know.

the fashion industry does that too tho

Is inflating the value of a property a bad thing? Asking for a twice-impeached ex-president.

Same thing Trump did except Trump won't face any consequences.

They must have graduated from Trump U

Are their last names Trump?🤣

Are they asking for a master aren't we all allowed to 🤔🧐🤦

It's all rigged, folks.

Is it called Trump Deli?

GameStop has left the chat.

Would love to hear from the managers for Duke and Vanderbilt’s endowments to find out why they thought this was a good investment

Shit they need to check out why we always loose our 401k money

They must hold Masters Degrees from Trump University.

This is a lesson in combining Trumponomics and “the Barnum Principle”. There’s a sucker born every minute and you can easily fleece ‘em.

'scuse me, but isn't this what happens on Wall Street every day? Goddammit I'm so sick of the manipulations and bullshit with money traders.

planetmoney

Oh. So you say inflating your assets is a crime?

Awesome

Right Out Of The Trump Play Book!

They probably could have gotten away with $1M but, oh no . . .

They must have used Donald Trump’s playbook.

Biden destroyed Nordstrom 2 and now China and Russia both have nuclear Destroyer sitting at Alaskan dock get ready for another Trump I Told You So when WWIII kicks off

The Orange Jesus Deli?

What do they charge for a pastrami sandwich! $12,500.00?!?

🤔🤔🤔 Gee whiz, who else have we heard that there is proof of overvaluing their property lately...

That’s not kosher.

Wow so the same shit trump did. Will he be next?

That’s a load of bologna

So why aren’t we charging trump?

If the president of the United States can do it, why not the average citizen?

aka The Tr*mp Method.

Wonder where they got that idea

Trump style!!!

Geez this sounds familiar 🤔

Are they named Trump?

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