Saudi Press

Saudi Arabia and the world
Sunday, Jul 06, 2025

Police in Thailand arrested an American man in connection with an alleged fraud that left a New Jersey deli worth $100 million

Police in Thailand arrested an American man in connection with an alleged fraud that left a New Jersey deli worth $100 million

Thai police arrested a man over an alleged fraud involving a firm that owned a New Jersey deli.
Police in Thailand have arrested an American man linked to an alleged stock market conspiracy that left a deli in New Jersey worth about $100 million.

Jirabhop Bhuridej, commissioner of Thailand's Central Investigation Bureau (CIB), told the Bangkok Post that Peter Coker Jr was arrested on January 11 in a hotel room near Surin Beach on the island of Phuket.

Coker Jr was on the run from authorities after he, his father Peter Coker Sr, and James Patten were allegedly involved in boosting the value of shares in Hometown International, which owned the deli, to give the company a valuation of as much as $100 million.

Hometown's only asset was the Paulsboro sandwich shop, which had sales of just $35,000 over a two-year period. The Department of Justice said the owners had "conspired to enrich themselves through a scheme to manipulate securities prices" in its arrest warrant for the men.

Coker Jr was the subject of arrest warrants issued by Interpol, per the Post, after being accused of stock market manipulation and fraud in September.

Bhuridej told the newspaper that the suspects had listed the business on the OTC Marketplace at $1.25 a share before they hired stock traders to manipulate its share price.

Hometown stock soared by more than 900%, and was delisted in 2021 for failing to comply with "over the counter" market rules. E-Waste, another company set up by the group, spiked by almost 20,000%.

The Bangkok Post reported that the CIB had been working with the FBI to locate Coker Jr. Coker Sr. and Patten were arrested in North Carolina in September last year and have pleaded not guilty.

Matt Reilly, a spokesman for the US Attorney's Office in New Jersey, confirmed in an email to CNBC on Wednesday that Coker Jr. had been arrested in Thailand.

The Post reported that Coker Jr. admitted he was the man wanted on the Interpol register.

The US Attorney's Office in New Jersey did not immediately respond to a request for comment from Insider, made outside normal working hours.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
×