Overcast 51°
Tag:

Stock Market Manipulation

News
NJ Deli Fraud Scheme Mastermind Arrested In Thailand: Feds NJ Deli Fraud Scheme Mastermind Arrested In Thailand: Feds
NJ Deli Fraud Scheme Mastermind Arrested In Thailand: Feds An international company chairman charged over a purported scheme to manipulate the stock market — one that resulted in a bogus $100M valuation for a Gloucester County deli despite minimal sales — was arrested in Thailand, the feds confirmed. Peter Coker Jr., 54, had been a fugitive since September when prosecutors filed 12 federal charges against him, his father, Peter Coker Sr., 80, and associate James Patten, 63. The trio allegedly boosted the share prices of Hometown International Inc. and another firm, E-Waste Corp. Matthew Reilly, a spokesperson for the New Jersey US Attorney’s Offic…

SHARE

by Jon Craig
Police & Fire
Clifton Trader Sent To Federal Prison For $17 Million Market Manipulation Scheme Clifton Trader Sent To Federal Prison For $17 Million Market Manipulation Scheme
Clifton Trader Sent To Federal Prison For $17 Million Market Manipulation Scheme A securities trader from Clifton was sentenced Tuesday to 18 months in federal prison for orchestrating a market manipulation scheme that netted him and others more than $17 million, authorities said. Joseph Taub, 41, must serve the entire term because there’s no parole in the federal prison system. U.S. District Judge John Michael Vazquez also sentenced Taub via teleconference from Newark to one year of supervised release, while ordering him to forfeit $17.1 million and pay restitution of $394,424 to the IRS. The Department of Justice also has reached a settlement of a civil forfeiture ca…

SHARE

by Jerry DeMarco