New Jersey
Feds sought to jail father charged in $100 million New Jersey deli scam with Hong Kong-based son at large
Hometown Deli, Paulsboro, N.J.
Mike Calia | CNBC
Federal authorities sought to detain one of many males charged in an alleged multiyear fraud scheme involving a neighborhood deli in a small New Jersey city, based on courtroom information.
The person – Peter Coker, Sr., 80 – was arrested Monday in North Carolina after which let go after the federal government agreed to the circumstances surrounding his launch. His son Peter Coker, Jr., 53, was additionally charged. He’s based mostly in Hong Kong and stays at giant.
Authorities additionally charged one other North Carolina resident, James Patten, 63, Monday. Each he and Coker Sr. are anticipated to look in a New Jersey federal courtroom at a yet-to-be-determined date.
The three males are charged with 12 counts, together with securities fraud, wire fraud and cash laundering. From 2014, when plans for the deli had been first laid out, by this month, authorities say the boys orchestrated a plan to inflate the worth of publicly traded corporations known as Hometown Worldwide and E-Waste as they sought merger companions. The Securities and Trade Fee additionally sued the boys in a parallel case.
Hometown Worldwide, which solely had the deli and its lower than $40,000 in annual gross sales to its title, and E-Waste, which had no discernible enterprise, each ended up with market values of about $100 million. Each corporations merged with different corporations. The deli’s new proprietor, Makamer Holdings, closed the store earlier this yr, promoting its remaining stock for $700.
Coker Jr. was the chairman of Hometown Worldwide, whereas Coker Sr. was a serious shareholder. Patten had enterprise relationships with them. He additionally wrestled in highschool with the deli firm’s one-time CEO Paul Morina, the highschool principal and wrestling coach in Paulsboro, New Jersey, the place the deli was situated. Makes an attempt to succeed in Morina have been unsuccessful.
After the Cokers and Patten gained management of Hometown Worldwide, authorities stated, they transferred shares to members of the family, pals and associates – together with these in China – in a scheme to make it appear like the corporate had extra shareholders than it truly had.
The indictment lists two co-conspirators Hong Kong, however doesn’t title them. Neither Manoj Jain, the founding father of one of many Hong Kong-based traders, Maso Capital, nor his colleagues had any contact with the investigators, based on an individual aware of the matter. This individual, who declined to be named because of the delicate nature of the matter, additionally claimed Jain and his colleagues aren’t the co-conspirators talked about within the indictment.
Historical past of hassle
Coker Sr. and Patten each have checkered authorized histories.
Coker Sr. has been sued for allegedly hiding cash from collectors and business-related fraud. He has denied wrongdoing in these circumstances, one in all which settled out of courtroom in North Carolina. In 1992, he was arrested in Allentown, Pennsylvania, and charged with prostitution and different crimes after he allegedly uncovered himself and propositioned three schoolgirls, the native Morning Name newspaper reported on the time.
Patten is barred by broker-dealer regulator FINRA from performing as a stockbroker. He was the topic of repeated disciplinary actions by the regulator, as effectively. In 2006, he efficiently appealed sanctions issued by an SEC decide in a case over accusations of inventory manipulation. Patten was defended in that matter by legal professional Ira Sorkin, who additionally represented notorious Ponzi scheme mastermind Bernie Madoff.
Attorneys listed for Coker Sr. and Patten declined to touch upon the case’s subsequent steps.
The legal professionals who represented the boys throughout their appearances Monday will not be anticipated to maintain working for them. It was not instantly clear whom the boys would rent subsequent because the case proceeds.
– CNBC’s Dan Mangan contributed to this report.
New Jersey
NJ lottery bonanza: There were 12 big winners that hit jackpots last week
13 things more likely to happen than winning the Powerball jackpot
Hoping to win the Powerball jackpot? Here are 13 things more likely to happen than becoming an instant millionaire.
Ocean County was lucky last week, but not quite as lucky as Monmouth County. Both had big New Jersey Lottery winners.
A Winter Green ticket, sold at the Red Bank Mart in Red Bank, won $500,000 on Nov. 19. That was one of two winning tickets sold in Monmouth County. The other, a $10,000 Loaded ticket worth $10,000, was sold Nov. 22 at Shoprite in Shrewsbury.
There were also two winners in Ocean. A Powerball ticket hit for $150,000 after it was sold at HC Good Neighbor Pharmacy in Toms River on Nov. 18. The other, a $10,000 Loaded ticket, was sold at Country Farm in Whiting on Nov. 22.
Overall, there were 12 people who won at least $10,000.
On Nov. 18, a Candy Cane Cash player won $100,000 at the A&M Convenience in South Plainfield, Middlesex County. On the same day, a Crossword ticket worth $20,000, was sold at MPM Services Corp. in Jersey City.
On Nov. 19, a Plu$ The Money ticket, worth $200,000, was sold at Road Runner Convenience Store in Lyndhurst, Bergen County.
On Nov. 22, a 50X Cash Blitz ticket worth $500,000, was sold at Deli Works in Oak Ridge, Passaic County. The same day, a Crossword Bonanza worth $25,000 was sold at Speedy Mart in Florham Park, Morris County.
On Nov. 23, a Super Crossword ticket worth $50,000 was sold at Akar IV Auto in Newark. Another ticket worth $50,000, a Powerball slip, was sold at Stew Leonard’s in Paramus, Bergen County.
New Jersey
Thanksgiving Tail: NJ Mom Says Anxious Dog Saved Her Son's Life
NORTH JERSEY — Ella the dog, a poodle-St. Bernard mix, is not an emotional support animal, says her owner, Beth Fitzgerald of Hoboken.
“She needs support,” Fitzgerald joked during a recent interview. She said Ella, who’s eight years old, has stomach problems and anxiety.
But this Thanksgiving, Fitzgerald, her husband, and her four adult children are thankful that Ella saved one of their lives.
Fitzgerald said that last May, she and her husband moved into an apartment in Maxwell Place in Hoboken. Three of her adult children also live in that city.
The family grew up in Montgomery, N.J., in Somerset County, but have since moved north.
In May, the family decided to travel to Boston for a ceremony for their oldest child’s graduation from graduate school.
Fitzgerald’s son Liam, 26, decided to stay behind for a day. He slept in his mom and dad’s relatively new rental in Maxwell Place that night and watched Ella, who was going to go to a sitter the next day.
But Ella started acting unusual that day.
At the same time, Liam was having headaches and didn’t feel well.
Since moving into Maxwell Place on May 1, Beth had smelled gas each day, but decided it was a slight smell and thought it disappeared when she got close to the oven. So she had dismissed it.
But when her son called and said he didn’t feel well — and Ella was acting unusual — she put it all together and knew the gas might be causing a problem.
Beth told Liam to immediately call the gas company, PSE&G, and not just the building supervisors. She also told her son to leave the apartment.
Luckily, PSE&G came and found the source of the leak. It was the oven after all. It’s since been replaced.
Fitzgerald said she’s been beating herself up a bit over leaving her son in an apartment with a gas leak. She said part of the reason she never called was that she didn’t want a big deal with fire trucks coming and the like. But she said she wanted people to learn from the incident.
“If you smell gas, don’t do what I did,” she said. “I keep thinking, what if it had been midnight [and Liam was asleep]? What if Ella didn’t act weird? Don’t hesitate. You call PSE&G immediately.”
She noted that chemicals are added to natural gas to give it an odor, so people can detect if there’s too much.
“If anything had happened to my son or my dog, I would have never been able to forgive myself,” she said.
Brian Clark, a vice president for PSE&G Gas Operations, said, “We’re so glad Beth took action and told her son to leave the house immediately and call PSE&G. She did exactly the right thing to ensure their safety, and the neighbors’ safety. If you ever smell gas, leave the area immediately.”
IF you have an emergency, you can call PSE&G at 1-800-880-PSEG (7734) or 911. You can learn more at PSEG.com/gassafety.
Meanwhile, Patch asked Ella herself for a comment on her heroic actions in May.
Ella looked away, licked her lips, then ran and hid behind her mommy.
New Jersey
Companies could easily flee NY for NJ over new congestion toll: senator
Companies might easily flee New York for New Jersey if they find that the new congestion pricing toll in Midtown is hurting their business and workers too much, Garden State Sen. George Helmy said Sunday.
The $9 charge for cars and up to nearly $22 for trucks is expected to have an outsized effect on commuting New Jerseyans and firms that do business in Manhattan, Helmy said on CBS New York’s “The Point with Marcia Kramer.”
The senator said the toll — which proponents claim will cut traffic and fund the perennially cash-strapped public transit Metropolitan Transportation Authority — might cause some New York businesses to move across the Hudson, where workers and customers won’t have to fork over the extra cash.
“You’ve seen over the last two years more and more New York City-based organizations, including business groups, say that this is bad for business and bad for working families in the city,” Helmy said.
“A lot of the employees who come to the city every day are New Jerseyans, mostly north New Jerseyans, or [they] live in our shore communities,” the senator said.
“And if they can get [their] businesses to move into Jersey City or Hoboken, where we’re already seeing some of that influx, I think it’s going to be good for New Jersey,” he said.
But he reiterated that congestion pricing as a whole is “bad for New Jersey, and it’s bad for the city.”
Several Garden State officials, including Gov. Phil Murphy, Rep. Josh Gottheimer and Rep. Mikie Sherrill, have called the new tolls a mistake.
“This plan is a tax on New Jersey families meant to force New Jerseyans to pay for MTA upgrades — all without getting a cent back for NJ TRANSIT,” said Sherrill, who along with Gottheimer is running to replace Murphy next year.
“Make no mistake: New Jersey will not sit back and take it quietly as New York uses our commuters as a meal ticket for the MTA,” she said.
There are already nearly a dozen lawsuits challenging the pricey plan, which recently cleared a key legislative hurdle and is set to start Jan. 5, CBS said.
Earlier this month, lawyers for the New Jersey governor urged a Newark federal judge to rule on one of the biggest lawsuits aimed at nixing congestion pricing — a plan that Hochul proposed, then paused before the election, then moved ahead on again right afterward.
“I have consistently expressed openness to a form of congestion pricing that meaningfully protects the environment and does not put unfair burdens upon hardworking New Jersey commuters.” Murphy has said about the toll. “Today’s plan woefully fails that test.”
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