New Jersey deli fugitive Peter Coker Jr. agrees to extradition
Your Hometown Deli in Paulsboro, N.J.
A former fugitive wished on legal inventory manipulation costs associated to a money-losing New Jersey deli as soon as valued at $100 million has agreed to be extradited from Thailand to the US, Thai authorities mentioned.
Peter Coker Jr., 54, was arrested final week by Thai police within the resort space of Phuket, lower than 4 months after he, his father, Peter Coker Sr., and an affiliate, James Patten, had been indicted in New Jersey federal courtroom.
The fees relate to 2 publicly traded firms, Hometown Worldwide, which owned solely a modest, now-closed deli in Paulsboro, New Jersey, and E-Waste, a shell firm that had no belongings.
Coker Jr., who most not too long ago was identified to be residing and dealing as a businessman in Hong Kong, is being held in a Bangkok jail for the following a number of weeks earlier than his anticipated extradition, the Related Press reported Friday.
Thai police, in a press release, mentioned Coker Jr., who’s an American most not too long ago identified to be residing in Hong Kong, had entered the nation with a passport issued by the Caribbean island of St. Kitts and Nevis. That nation sells citizenship in change for investments there, the AP famous.
“Mr. Coker Jr. voluntarily consented to be extradited to the U.S., which has simplified the courtroom’s authorized course of,” Teerat Limpayaraya, a prosecutor in Thailand’s Legal professional Normal’s workplace, informed the AP.
“We now have to finish a 30-day ready interval as required by Thai regulation earlier than sending him again,” mentioned Teerat.
The prosecutor mentioned additionally informed the AP that Coker Jr. “was visibly frail when he was taken in and informed us that he wants medical therapy for his liver illness. We consider that he entered Thailand with a attainable plan to settle right here.”
U.S. prosecutors accuse the Cokers and Patten of a scheme to bid up the worth of shares of Hometown Worldwide and E-Waste, each of which had excessive market capitalizations regardless of holding little if any belongings of worth, to make them extra engaging to personal companies as merger candidates. Each firms later discovered merger companions.
Coker Jr. had served as chairman of Hometown Worldwide.
Whereas Pattan and Coker Sr., have made courtroom appearances since their arrest, Coker Jr. was believed to be at massive till his arrest final week.
A spokesman for the U.S. Legal professional’s Workplace in New Jersey, which is prosecuting the case, confirmed Coker Jr.’s apprehension in Thailand, however declined to remark additional.