SEC Charges Father-Son Duo and Associate in Market Manipulation Schemes Resulting in a New Jersey Deli with a $100 Million Valuation
Washington D.C., Sept. 26, 2022 —
The Securities and Exchange Commission today charged Peter L. Coker Sr., Peter L. Coker Jr., and James T. Patten for their roles in orchestrating fraudulent manipulative securities trading schemes. These schemes included artificially inflating the share price of Hometown International, which operated a New Jersey deli producing less than $40,000 in annual revenue, from approximately $1 per share in October 2019 to nearly $14 per share by April 2021, leading to a grossly inflated market capitalization of $100 million.
Former CEO of Health Clinic Convicted of Medicaid Fraud
US Department of Justice
A federal jury convicted a former CEO of a health clinic for defrauding the Louisiana Medicaid Program over several years.
According to court documents and evidence presented at trial, Victor Clark Kirk, 73, of Baton Rouge, Louisiana, was the CEO of St. Gabriel Health Clinic Inc. (St. Gabriel), a Louisiana nonprofit corporation that provided health care services to Medicaid recipients and others. St. Gabriel was a federally qualified health center (FQHC) that contracted with the Iberville Parish School Board to provide medical services within the school district. As a FQHC, St. Gabriel could provide primary care services to students as well as services related to the diagnosis and treatment of mental illnesses – provided that such services were medically necessary – among other requirements.
92 entries added, 5 entries amended on the consolidated list
On 26 September 2022 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act.
92 entries have been added to the Russia financial sanctions regime and are now subject to an asset freeze. 3 entries have been amended and 1 entry corrected under the Russia financial sanctions regime and remain subject to an asset freeze.