{"id":39515,"date":"2025-05-14T11:17:37","date_gmt":"2025-05-14T11:17:37","guid":{"rendered":"https:\/\/microloannexus.com\/?p=39515"},"modified":"2025-05-14T11:17:43","modified_gmt":"2025-05-14T11:17:43","slug":"100-million-deli-fraudster-sentenced-to-prison","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=39515","title":{"rendered":"$100 Million Deli Fraudster Sentenced to Prison"},"content":{"rendered":"<div>\n<p>This deli made too much bread not to attract attention.<\/p>\n<p>In September of 2023, North Carolina businessman Peter L. Coker Sr., his son Peter Coker Jr., and a third accomplice, James T. Patten, pled guilty to securities fraud in a scheme that falsely valued their single-location New Jersey-based Hometown Deli at $100 million.<\/p>\n<p>The Cokers and Patten artificially inflated the price of two companies, Hometown International, which owned the deli, and E-Waste, to make them more appealing to private firms. It was later revealed that Hometown only owned one money-losing deli, and E-Waste was not operating in any capacity.<\/p>\n<p><b>Related: <\/b>Reality Stars Are Sentenced To Prison For a &#8217;15-Year Fraud Spree&#8217;<\/p>\n<p>Today, Coker Sr., 82, was sentenced Tuesday to six months in prison and ordered to serve six months of home confinement after his release. He will also be required to pay a $500,000 fine and up to $644,000 in restitution, reports CNBC.<\/p>\n<p>&#8220;I&#8217;m terribly sorry for my part,&#8221; Coker Sr. said at his sentencing. &#8220;This episode has been the worst time of my life.&#8221;<\/p>\n<p>&#8220;I&#8217;m sorry for every investor harmed by my actions,&#8221; he added.<\/p>\n<p><b>Related:<\/b> &#8216;We Got Back to Work&#8217;: Kevin Bacon Opens Up About Losing &#8216;Millions&#8217; in Bernie Madoff&#8217;s Ponzi Scheme<\/p>\n<p>Coker Jr. and Patten&#8217;s sentencing will follow. After his initial arrest in 2022, Coker Jr. went on the run and was found hiding in a hotel room in Thailand&#8217;s Phuket province. He will face deportation after he serves his sentence, per CNBC.<\/p>\n<p>&#8220;This was a fraudulent scheme from the inception,&#8221; Judge Christine O&#8217;Hearn said at the start of the hearing. She labeled the companies worthless and said she &#8220;learned more than I ever care to&#8221; about their fraudulent operations.<\/p>\n<\/div>\n<div>\n<div class=\"first-letter:float-left first-letter:text-8xl first-letter:pr-1 first-letter:-mt-1 first-letter:font-black first-letter:text-gray-500 prose prose-blue max-w-3xl text-lg leading-relaxed mb-12\">\n<p>This deli made too much bread not to attract attention.<\/p>\n<p>In September of 2023, North Carolina businessman Peter L. Coker Sr., his son Peter Coker Jr., and a third accomplice, James T. Patten, pled guilty to securities fraud in a scheme that falsely valued their single-location New Jersey-based Hometown Deli at $100 million.<\/p>\n<p>The Cokers and Patten artificially inflated the price of two companies, Hometown International, which owned the deli, and E-Waste, to make them more appealing to private firms. It was later revealed that Hometown only owned one money-losing deli, and E-Waste was not operating in any capacity.<\/p>\n<\/div>\n<div class=\"justify-center bg-gray-100 flex flex-col sm:flex-row rounded-lg p-6 align-middle sm:text-left text-center\">\n<div class=\"flex flex-col justify-center align-middle mr-0 sm:mr-16\">\n<p class=\"text-sm leading-5 my-0\">\n      The rest of this article is locked.\n    <\/p>\n<p class=\"text-xl text-black font-bold leading-5 my-1\">\n      Join Entrepreneur<span class=\"text-yellow-500\">+<\/span> today for access.\n    <\/p>\n<\/p><\/div>\n<\/div><\/div>\n<p>Read the full article <a href=\"https:\/\/www.entrepreneur.com\/business-news\/100-million-deli-fraudster-sentenced-to-prison\/491561\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This deli made too much bread not to attract attention. In September of 2023, North Carolina businessman Peter L. Coker Sr., his son Peter Coker Jr., and a third accomplice, James T. Patten, pled guilty to securities fraud in a scheme that falsely valued their single-location New Jersey-based Hometown Deli at $100 million. The Cokers<\/p>\n","protected":false},"author":1,"featured_media":39516,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[32],"class_list":{"0":"post-39515","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-make-money","8":"tag-featured"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>$100 Million Deli Fraudster Sentenced to Prison | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"This deli made too much bread not to attract attention.In September of 2023, North Carolina businessman Peter L. 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