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Search resuls for: "Southern New"


4 mentions found


☆ Three Men Charged in Stock Scam Involving $100 Million Deli
  + stars: | 2022-09-26 | by ( Dave Michaels | ) www.wsj.com   time to read: 1 min
A deli in southern New Jersey was the vessel for an elaborate fraud scheme involving three men who managed to inflate the company’s stock-market value to $100 million, according to federal prosecutors and regulators. The story of how Hometown International Inc.’s stock achieved such a lofty valuation was a mystery that played out in public last year. “The pastrami must be amazing,” hedge-fund manager David Einhorn wrote in a note to investors, before citing the stock as an example of how “the market is fractured and possibly in the process of breaking completely.”
☆ Three men charged with fraud in $100 million New Jersey deli scheme
  + stars: | 2022-09-26 | by ( Mike Calia Dan Mangan | Mike Calia | Dan Mangan | ) www.cnbc.com   time to read: +4 min
Your Hometown Deli, the business at the center of the probe, was located in Paulsboro, New Jersey, over the Delaware River from Philadelphia. The parent company, Hometown International, had merged with a bioplastics company. The $100 million New Jersey deli, as Your Hometown Deli came to be known, was first brought to the public's attention by investor David Einhorn in a letter to clients. The securities fraud and securities price manipulation counts carry maximum penalties of 20 years in prison and a $5 million fine. The conspiracy to commit securities fraud and conspiracy to manipulate securities prices counts each carry a maximum penalty of five years in prison.
☆ Former NJ governor and U.S. representative James Florio dies at 85
  + stars: | 2022-09-26 | by ( ) www.cnbc.com   time to read: +2 min
Former New Jersey Gov. James Florio, who championed a plan that substantially raised the state's sales and income taxes leading to his reelection defeat in 1993, died Sunday. His law partner Doug Steinhardt and current New Jersey Gov. Before becoming governor, Florio served four years in the state Assembly and 15 years in the House of Representatives. In February 2015, Florio and three other former New Jersey governors urged the state senate to delay a vote on Gov.
☆ Man found guilty of sex trafficking, extortion of daughter's Sarah Lawrence schoolmates
  + stars: | 2022-04-07 | by ( Minyvonne Burke | The Associated Press | Minyvonne Burke Is A Senior Breaking News Reporter For Nbc News. | ) www.nbcnews.com   time to read: +2 min
A New York man was convicted Wednesday on charges that he moved into his daughter's dorm room at Sarah Lawrence College and abused students at the elite school in a nearly 10-year scheme. Lawrence Ray, 62, was found guilty of extortion, sex trafficking, forced labor, money laundering and other charges. Ray stood with his arms at his sides and faced the Manhattan jury as it returned guilty verdicts on all 15 counts, NBC New York reported. The U.S. attorney for Southern New York, Damian Williams, said Ray "terrorized" and "tortured" the group. After the guilty verdict was read Wednesday, Ray was returned to custody, where he has been since he was arrested in 2020.
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