Peter Coker Jr. was arrested at his hotel room after he served as chairman of a company whose value skyrocketed to $100 million in 2021—even though its only asset was a small deli in suburban Philadelphia.
, and will now face federal charges in what appears to be one of the most bizarre cases of alleged stock manipulation in recent memory.... [+]Thai authorities arrested 54-year-old Peter Coker Jr. at a hotel room in the Thalang district of Phuket province, several media outlets reported Wednesday, citing the New Jersey U.S. Attorney’s Office.with money laundering, wire fraud, securities fraud and other crimes as part of a 12-count indictment in September, along with his father, Peter Coker Sr.
, a publicly traded company that reached ain 2021 despite holding only one asset: Your Hometown Deli in Paulsboro, New Jersey, a suburb of Philadelphia. Prosecutors say the men advertised Hometown International and a shell business they operated, E-Waste Corp., as vessels for reverse mergers with private businesses, drastically boosting the companies’ stock prices in the process.
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