New Jersey
Fugitive wanted for $100M New Jersey deli fraud scheme arrested in Thailand
A fugitive charged over an alleged market manipulation scheme wherein a small New Jersey deli mysteriously drew a $100 million valuation was arrested final week in Thailand, the feds confirmed Thursday.
Peter Coker Jr., 54, had been on the lam since final September, when prosecutors slapped him, his father Peter Coker Sr., 80, and affiliate James Patten, 63, with 12 federal expenses.
The trio allegedly boosted the share costs of Hometown Worldwide Inc. and one other agency, E-Waste Corp.
When reached by The Submit, Matthew Reilly, a spokesperson for the New Jersey US Lawyer’s workplace, confirmed that Coker Jr. was arrested on Jan. 11. The workplace declined additional touch upon the scenario.
Coker Jr. was arrested final week at a resort close to Surin Seashore within the Phuket province of Thailand, The Bangkok Submit reported, citing native officers. Interpol had issued a crimson discover calling for his arrest.
Hometown Worldwide raised eyebrows after it drew a nine-figure valuation despite the fact that its solely asset was “Your Hometown Deli” in Paulsboro. The feds allege that Coker Jr. and his co-conspirators managed to “artificially” inflate the corporate’s inventory by 939%.
Patten and Coker Sr. had been arrested in September, when the Justice Division first introduced the costs, which embody conspiracy to commit securities fraud, securities fraud and conspiracy to control securities costs. Patten was slapped with further expenses, together with cash laundering and wire fraud.
Prosecutors stated the trio used faux trades to create the impression that shares of the 2 companies had been scorching with traders.
“From 2014 via September 2022, Patten, Coker Sr., and Coker Jr. conspired to counterpoint themselves via a scheme to control securities costs by way of a sample of coordinated buying and selling, which injected inaccurate info into {the marketplace}, creating false impressions of provide and demand for these securities,” the feds stated in a press release on the time.
The unusual scenario was first famous in April 2021 by famed short-seller David Einhorn, who flagged Hometown’s large valuation for instance of regulatory failings in a letter to his purchasers.
Within the letter, Einhorn identified that the corporate and its lone deli had generated simply $13,976 in gross sales the earlier yr.
“The pastrami have to be wonderful,” Einhorn wrote. “Small traders who get sucked into these conditions are more likely to be harmed ultimately, but the regulators — who’re presupposed to be defending traders — look like neither current nor curious.”
New Jersey
New Jersey State Police Gave a ‘Free Pass’ to Motorists with Courtesy Cards or Ties to Police, Investigation Finds – Insider NJ
The Office of the State Comptroller found even motorists suspected of dangerous driving offenses were let go by New Jersey State Police.
TRENTON—An investigation finds that New Jersey State Police troopers routinely gave preferential treatment to certain motorists who presented a courtesy card or asserted a personal connection to law enforcement—even when motorists were suspected of dangerous offenses, like drunk driving, according to a new report by the New Jersey Office of the State Comptroller.
OSC’s Police Accountability Project reviewed body worn camera footage of 501 no-enforcement stops by New Jersey State Police–meaning stops where New Jersey State troopers did not issue tickets or make arrests. In 139 or 27 percent of these no-enforcement stops, motorists presented a courtesy card, claimed to have a friend or relative in law enforcement, or flashed a law enforcement badge and then were let go, OSC’s report said. In some cases, the trooper released the motorist immediately, offering some version of “you’re good.” The report found that courtesy cards are in wide usage and function as “accepted currency” by state troopers. (In all but one case, the troopers gave the courtesy card back to the motorist, enabling the card to be used again.)
Reviewing more than 50 hours of body worn camera footage of the stops, which took place over ten days in December 2022, OSC found that troopers regularly decided not to enforce motor vehicle laws after receiving a courtesy card or being told the driver has ties to law enforcement. For instance, one motorist, who was stopped for driving over 90 miles per hour, admitted to drinking alcohol but was let go without a sobriety test after he presented two courtesy cards. Another motorist was stopped for driving over 103 miles per hour and was released after she volunteered that her father was a lieutenant in a local police department. The most significant consequence the troopers imposed in these stops was advising the motorists that they had left a voicemail message for the law enforcement officer named on the courtesy card or invoked as a friend or relative. OSC has released video excerpts of the footage.
“Our investigation shows that some people are being given a free pass to violate serious traffic safety laws,” said Acting State Comptroller Kevin Walsh. “Law enforcement decisions should never depend on who you know, your family connections, or donations to police unions. Nepotism and favoritism undermine our laws and make our roads more dangerous.”
Overall, close to half of the 501 non-enforcement stops reviewed by OSC involved speeding, many for more than 20 miles per hour over the speed limit. In three stops, drivers stopped for reckless driving, careless driving, and/or speeding, also admitted to drinking alcohol, yet were released without being asked to step out of the car for a field sobriety test. Both drunk driving and speeding are major causes of traffic fatalities. According to data compiled by the New Jersey State Police Fatal Accident Investigation Unit, in 2022, New Jersey recorded 646 fatal collisions that resulted in 689 deaths or 1.89 fatalities per day. This was among the highest number of traffic-related deaths in New Jersey in the past 15 years.
OSC initiated this investigation in response to reports that law enforcement officers’ decisions not to enforce motor vehicle violations were influenced by improper factors, including courtesy cards. Courtesy cards, often referred to as PBA cards, FOP cards, or gold cards, are given out by police labor associations to law enforcement officers. They also can be purchased through “associate memberships” with police associations and are sold by private companies.
OSC’s investigation found that courtesy cards are widely used. In 87, or 17 percent, of the no-enforcement stops OSC reviewed, motorists presented courtesy cards that came from municipal police departments, county and state agencies, as well as inter-state and out-of-state law enforcement agencies. They all appeared to be equally effective at getting motorists released without enforcement.
Asserting a relationship with law enforcement appeared to carry equal weight, OSC found. In 52 or 10 percent of the no-enforcement stops reviewed, the driver or passengers did not present a courtesy card but claimed a connection to law enforcement, and the trooper decided to let them go. In 29 of those stops, the motorist or passenger identified themselves as current, retired, or in-training law enforcement officers. Other stops resulted in no enforcement when the drivers or passengers claimed a relative, friend, or neighbor worked in a law enforcement agency.
In one stop, a trooper said he stopped a motorist for driving 97 miles per hour. After an extended conversation about the “friends” they had in common, the trooper told the driver to “stay safe” and let him go. In another stop, a trooper performed a computerized look-up of the driver’s credentials and discovered the driver had an active warrant for his arrest. But when the driver’s friend introduced himself, letting the trooper know that he was also an off-duty trooper, the stopping trooper walked back to the motorist, apologized for stopping him, and let him go without even mentioning the warrant. OSC was unable to determine from the footage what the warrant was for.
Other findings include:
- Providing preferential treatment to motorists who present courtesy cards or assert close personal relationships with law enforcement appears to have a discriminatory impact. Of the 87 courtesy cards observed in the sample, for instance, 69 were presented by White drivers.
- Even when courtesy cards were not present, racial disparities were observed in the sample. New Jersey State Police policy requires troopers to request all three driving credentials (license, registration, proof of insurance) when making motor vehicle stops, but OSC found overall, White and Asian drivers were less likely to have all three of their credentials requested and verified when compared to Black and Hispanic/LatinX drivers. Additionally, troopers conducted computerized lookups of Hispanic/LatinX drivers 65 percent of the time, while looking up White drivers only 34 percent of the time.
- In many stops, OSC was unable to ascertain why the troopers made the decision not to enforce motor vehicle violations because of the quality of the video footage or other factors. Still, OSC observed several of those stops involved dangerous offenses, underscoring the importance of reviewing no-enforcement motor vehicle stops, which are not routinely reviewed.
OSC made 11 recommendations, including that New Jersey State Police regularly review no-enforcement stops to better understand racial/ethnic trends in motor vehicle data and determine if additional training is needed. OSC also recommended that the Attorney General consider issuing a directive that would explicitly prohibit law enforcement officers from giving preferential treatment to motorists because of their ties to law enforcement or possession of courtesy cards.
Read the report.
Watch excerpts of the body camera footage.
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New Jersey
Authorities Debunk Viral Explanation for NJ Drone Sightings
The drones spotted over the Garden State were probably not looking for a missing shipment of radioactive material.
New Jersey
N.J. weighs making underage gambling no longer a crime, but subject to a fine
Should underage gambling no longer be a crime?
New Jersey lawmakers are considering changing the law to make gambling by people under the age of 21 no longer punishable under criminal law, making it subject to a fine.
It also would impose fines on anyone helping an underage person gamble in New Jersey.
The bill changes the penalties for underage gambling from that of a disorderly persons offense to a civil offense. Fines would be $500 for a first offense, $1,000 for a second offense, and $2,000 for any subsequent offenses.
The money would be used for prevention, education, and treatment programs for compulsive gambling, such as those provided by the Council on Compulsive Gambling of New Jersey.
“The concern I had initially was about reducing the severity of the punishment,” said Assemblyman Don Guardian, a Republican former mayor of Atlantic City. “But the fact that all the money will go to problem gambling treatment programs changed my mind.”
Figures on underage gambling cases were not immediately available Thursday. But numerous people involved in gambling treatment and recovery say a growing number of young people are becoming involved in gambling, particularly sports betting as the activity spreads around the country.
The bill was approved by an Assembly committee and now goes to the full Assembly for a vote. It must pass both houses of the Legislature before going to the desk of the state’s Democratic governor, Phil Murphy.
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