Fugitive $100 million New Jersey deli defendant Peter Coker Jr. arrested in Thailand - CNBC

A fugitive facing national transgression stock-manipulation charges successful the United States successful transportation with a tiny New Jersey deli whose genitor institution was erstwhile preposterously valued astatine $100 cardinal has been arrested by authorities successful a edifice country of Thailand.

Peter Coker Jr., who past was known to beryllium surviving successful Hong Kong, is 1 of 3 radical charged successful the lawsuit involving the deli owner, Hometown International, and a related ammunition company, E-Waste.

His father, Peter Coker Sr., 83, and a 3rd defendant, 63-year-old James Patten, were arrested successful the lawsuit successful September successful North Carolina, and since past person made appearances successful New Jersey national court. The elder Coker and Patten remotely appeared via Zoom connected Tuesday for a proceeding successful the Camden courthouse.

The trio are accused of fraudulently pumping up the worth of the publically traded companies, which were being marketed arsenic candidates for mergers with backstage companies.

The Bangkok Post reported that the 54-year-old Coker Jr. was arrested connected Jan. 11 successful a edifice country successful the Thalang territory of Phuket province, Thailand.

The paper said Coker Jr. was arrested pursuant to alleged reddish and achromatic notices issued by the International Criminal Police Organization, Interpol. Local Thai police, moving with the FBI, arrested Coker, aft tracking him to the hotel, The Post reported.

"I tin corroborate it happened," Matt Reilly, a spokesperson for the U.S. Attorney's Office successful New Jersey, told CNBC successful an email.

Coker Jr. had served arsenic president of Hometown International, whose sole plus for years was the Your Hometown Deli successful Paulsboro, New Jersey. His begetter was a large shareholder successful the company, which successful 2021 had a banal marketplace capitalization of $100 cardinal contempt the deli having little than $40,000 successful full yearly revenue.

Prosecutors person said that the Cokers and Patten "artificially inflated" the values of Hometown International and E-Waste banal by 939% and 19,900% respectively done manipulated trades successful shares.

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