The sole property of Hometown International was a struggling sandwich store named Your Hometown Deli, situated in Paulsboro, New Jersey. The deli's owner, a high school principal and wrestling coach, had no knowledge of the fraudulent stock scheme. Yet at one point, the market capitalization of Hometown International and another company, E‑Waste, exceeded $100 million.
Patten along with Peter Coker Sr. and his son Peter Coker Jr. all admitted to conspiring to push up the stock value of those two rarely traded firms, aiming to turn them into viable reverse-merger targets. E-Waste existed as a shell entity lacking any meaningful business activity.
Patten was an employee of Coker Sr. in the offense conduct.
Patten has been in this position before. In 2010, he was found guilty of an unrelated mail fraud charge and received a 27‑month prison term. He was released in 2012.
"When I was released in 2012, I thought that I had learned my lesson and that I would never again put myself or my family in that position again," Patten wrote in a letter to the judge. "But I failed."
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He stated that merely two years following his release, he embarked on the journey that now places him in court.
In his letter, Patten explained to the judge that during that period he felt disoriented and eager to reclaim his former life as a broker, yet no legitimate firm would take him on.
So when Coker Sr. recruited Patten to assist in the stock manipulation scheme, Patten says he said yes.
"I should have said 'no' when this scheme was presented to me, and agreeing to participate will always be one of the worst mistakes of my life," Patten wrote. "I knew the scheme was wrong, but I ignored that voice in my head. I have no one to blame but myself."
Since his guilty plea in December 2023, Patten has been employed as a materials handler in a Coca‑Cola warehouse and also works part‑time doing handyman jobs at a taproom and brewery. Patten's attorney also pointed to his client's seizure disorder, noting two episodes that occurred in February and May, as justification for avoiding jail time.
The defense argues that because Patten was Coker Sr.'s employee, he deserves a lesser sentence than his boss. Coker Sr. received six months' incarceration and six months' home detention. "Surely Mr. Patten is entitled to a lesser sentence," his lawyer wrote.
The catch: Patten already has a felony on his record from the 2010 case. Prosecutors see that as a reason to be tougher, not softer.
In late June, federal prosecutors urged Judge Christine O'Hearn to impose a sentence of 12 to 18 months when she hands down the punishment on July 21. They pointed out that Patten returned to fraud only about two years after being released from his previous prison term.
"A prison sentence is necessary because his return to fraud so soon after spending approximately two years in prison is troubling," the government wrote.
For context, federal sentencing guidelines suggest a range of 70 to 87 months. That is a lot more than either side is asking for, but judges are not required to follow those guidelines exactly.
Peter Coker Jr. was sentenced to 40 months behind bars for his part in the fraud and has already been freed; his father, Peter Coker Sr., served six months in prison followed by six months of home confinement.
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