Coker Father-Son Duo Pleads Guilty to Securities Fraud

Peter Coker Sr., 82, and his son Peter Coker Jr., 56, pleaded guilty to securities fraud and conspiracy charges linked to a scheme that inflated the stock prices of Hometown International, the parent company of a small New Jersey deli, and E-Waste Corp. Their fraudulent activities, which ran from 2014 to 2022, resulted in an astonishing 939% increase in Hometown's stock and a nearly 19,900% surge for E-Waste. The Cokers, alongside co-conspirator James Patten, created a false impression of market demand through coordinated trading practices, profiting from selling their inflated shares. The case highlights the bizarre intersection of a modest deli with a market valuation exceeding $100 million. Sentencing for the Cokers is scheduled for April and May 2025, with potential sentences up to 25 years in prison and heavy fines. This guilty plea marks a significant development in a case that has drawn attention for its audacity and scale.