Home MarketsAsia Fugitive from New Jersey Peter Coker Jr. agree to issue

Fugitive from New Jersey Peter Coker Jr. agree to issue

by SuperiorInvest

Your Hometown Deli in Paulsboro, NJ

Google Earth

Former fugitive wanted for criminals stock handling fees linked to the loss of money from the New Jersey deli, once worth $100 million, has agreed to be extradited from Thailand to the United States, Thai authorities said.

Peter Coker Jr., 54, he was arrested last week by Thai police in the resort of Phuket, less than four months after he, his father Peter Coker Sr. and companion James Patten, were accused in federal court in New Jersey.

The charges relate to two publicly traded companies, Hometown Internationalwhich owned only a modest, now-shuttered deli in Paulsboro, New Jersey, and Electronic wastea shell company that had no assets.

Coker Jr., who was last known to be living and working as a businessman in Hong Kong, is being held in a Bangkok jail for several weeks pending his expected extradition. The Associated Press reported about it Friday.

Thai police said in a statement that Coker Jr., who is an American most recently known to be living in Hong Kong, entered the country on a passport issued by the Caribbean island of St. Kitts and Nevis. This nation sells citizenship in exchange for investment there, AP noted.

“Mr. Coker Jr. voluntarily agreed to be extradited to the U.S., which simplified the court process,” Teerat Limpayaraya, a prosecutor at Thailand’s attorney general’s office, told the AP.

CNBC Politics

Read more about CNBC’s political coverage:

“We have to complete the 30-day waiting period as required by Thai law before we send him back,” Teerat said.

The prosecutor also told the AP that Coker Jr. “He was visibly weak when he was admitted and told us he needed medical treatment for his liver disease. We believe he entered Thailand with a possible plan to settle here.”

U.S. prosecutors accuse the Cokers and Patten of a scheme to inflate the stock value of Hometown International and E-Waste, which had high market capitalizations despite holding few, if any valuable assets, to make them more attractive to private firms. merger candidates. The two companies later found partners for the merger.

Coker Jr. served as chairman of Hometown International.

While Pattan and Coker Sr. have appeared in court since their arrests, Coker Jr. was at large until his arrest last week.

A spokesman for the U.S. Attorney’s Office in New Jersey, which is prosecuting the case, confirmed Coker Jr.’s arrest. in Thailand, but declined to comment further.

Source Link

Related Posts

%d bloggers like this: