$ 100 Million New Jersey Daily Cheating Peter Koker Senior gets six months jailed

Northern carolina businessman Peter Cocker SRWhich convicted the infamous $ 100 million stock for cheating. New Jersey Daily Corporation and a related Shell Company, On Tuesday, a six -month jail was sentenced to jail.

Cocker Senior was also ordered to serve six months of domestic imprisonment after his release, pay a fine of $ 500,000 and pay up to $ 644,000 in restoration.

Kokar Senior said, “I stand before removing my actions.” US District Court in Camden, New Jersey,

The 82 -year -old Chapel Hill resident said, “I am very sorry for my share. This episode has been the worst time in my life.” ‘I am sorry for every investor who has suffered losses due to my actions. ,

Federal punishment guidelines suggested a jail sentence of 51 to 63 months for Cooker Senior, but prosecutors said they wanted less time than that, ie the top end of a limit of zero to 24 months that they convicted them.

Cooker senior, his son Peter Kocker Junior.And a third man, James Patton, conspired to artificially increase the price of publicly traded shares of companies. Hometown International And E-waste – To make them more attractive as candidates for merger with private owned firms.

The market capitalization of the two companies exceeded $ 100 million, despite the hometown, only a small, money-losing sandwich shop in South Jersey, and e-waste had no real business operations.

The three people convicted securities fraud.

At the beginning of the hearing, Judge Christine O’Harn said, “This was a fake plan,” Judge Christine O’Harn said the hearing early.

“Companies, in fact, are useless, and there is no possibility of recovery,” O’Harn said.

The judge said, “It was a multi-year, very sophisticated fraud scheme that included a type of esoteric corporate structure, of which I have ever cared for.” “One who was illegal … and it caused damage.”

The judge opened the hearing by giving a shock to the defense lawyers, adopting the arguments of the prosecutors, saying that the plan had about $ 5 million losses, including the investment by Duke and Vanderbilt Universities.

O’Harn asked at one point, “What inspires I inspires it here besides greed?”

The judge said that the total assets of the cocker senior are $ 6 million.

Kokar Junior will later be sentenced by O’Harn on Tuesday.

Patton is sentenced to a later date.

The small cooker was not in court, while his father was sentenced, as the Essex County had a long delay in carrying him from jail. He has been detained without bail since he was extradited from Thailand in March 2023, as he was arrested as a fugitive.

Kokar Junior faced exile after sentencing his sentence. He abandoned him U.S. citizenship In 2019, and Caribbean Nations holds citizenship in St. Kitts.

Kokar Senior’s lawyer, Zach Intrater, asked O’Harn to be punished for the prison time after describing her as a good family person, who never disputed his criminal conduct after being accused for the first time.

The defense lawyer said, “I don’t think they now make too much like Peat.” “He is a court, his etiquettes are imperfect.”

Intret repeatedly referred to Susan Kokar, who has been married to Peter for 61 years, asked the judge to allow the couple to allow them to live together for the remains of their lives.

“He takes responsibility to engage in a crime that does not only hurt other people, which is not just hurting his family, but it was not included in his son, his only son, and knowing that his son has disrupted his work in his work and know what is happening with his son, what is happening during that tenure.”

“Judge, I think it is a punishment to be with it that you can be worse than what you can impose,” said the Interator.

The lawyer also argued that there was no “prime mover” for the Kokar Senior Plan.

Susan Kokar told the judge, “He is just a wonderful boy.”

“I know if he had a second chance, he would never have done so,” Susan said, his voice was cracking.

Cocker Senior and Patton were arrested in September 2022, both were arrested months after the hometown Merged With a bioplastic company, and merged with one after a year after e-waste Power vehicle company,

Kokar Junior, who lived earlier in Hong Kong, was arrested months later.

CNBC has a web of suspected connections between hometown and e-waste, as well as a year after a year of expanding a web of suspected connections between Cocker Senior and Civil and Civil Court cases of Civil and Civil Court, and consulted with both companies that benefit the two men.

Fraud came to light in April 2021 after being a hedge fund manager David inhorn Wryly mentioned that the market capitalization of Grihanagar International was $ 100 million despite being just a property owner, whose annual revenue from selling sandwiches, soda and chips was less than $ 36,000 for the last two years.

“Pastori must be amazing,” Anhorn wrote to customers in a letter.

Interator said on Tuesday that he believes that the matter was prosecuted in large parts because due to the anhorn letter, which caused important coverage in the media.

The scam, which lasted from 2014 to September 2022, coordinated the trading of shares of companies, which led to a false impression demanding shares trading on the OTC Marketplace.

The scheme began when Patton suggested his friend Paul Morina, a high school principal and the famous wrestling coach as a Umbrella Corporation as a Umbrella Corporation. The company will be the owner of its hometown Daily in Palesboro, New Jersey.

Morina and other daily owners were unaware of Patton’s plan to manipulate the stock of hometown.

During the plan, the share price of hometown increased by more than 900%. The price of e-waste increased by about 20,000%.

In 2010, Patton convicted a mail fraud at the New Jersey Federal Court, in which a customer was sent a wrong financial statement to cover up bad investments using his money. He was sentenced to 27 months in jail in that case.

Four years ago, Patton was barred from acting as a stockbroker by a broker-dealer Finra, which fails to fulfill the mediation award of over $ 753,000, to violate securities laws and thwart a unauthorized trade to violate the securities laws and to brainstorm a customer’s account.

Cocker was sued for senior years ago Allegedly hide money from creditors And Alleged trade fraudHe refused to do wrong things in those cases.

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