James Patten is sentenced to 21 months in federal prison in connection with a securities fraud case involving a New Jersey deli. Multiple reports state that Patten, a former stockbroker, receives the prison term on Tuesday from U.S. District Judge Christine O’Hearn in Camden, New Jersey. The case is described as an unusual Wall Street matter in which Patten allegedly used stock manipulation to transform a small deli that had been losing money into a company valued at nearly $100 million. The sentencing effectively closes the federal case, according to the accounts. One outlet reports the term and timing of the sentencing, while the other provides additional background on Patten’s role and the alleged impact of the scheme on the company’s valuation. The reporting does not add details on sentencing conditions beyond the length of imprisonment, or on specific charges and plea or trial outcomes, but both sources agree on the key outcome: Patten is sentenced to 21 months in prison in the New Jersey deli stock fraud matter.
James Patten sentenced to 21 months in prison in New Jersey deli stock fraud case
James Patten is sentenced to 21 months in federal prison in connection with a securities fraud case involving a New Jersey deli. Multiple reports state that Patten, a former stockbroker, receives the...
- James Patten is sentenced to 21 months in federal prison.
- The sentencing takes place Tuesday in Camden, New Jersey.
- The judge presiding is U.S. District Judge Christine O’Hearn.
- Patten is described as a former stockbroker tied to a scheme involving a New Jersey deli’s stock.
- Reports describe the alleged manipulation as driving the deli’s company value to nearly $100 million.
James Patten, the former stockbroker behind the infamous stock manipulation scheme that turned a small, money-losing New Jersey deli into a company valued at nearly $100 million, has been sentenced to 21 months in federal prison. Patten, 67, was sentenced on Tuesday by U.S. District Judge Christine O'Hearn in Camden, New Jersey, bringing one of Wall Street's most unusual securities fraud cases to a close.
4 hours agoJames Patten was sentenced Tuesday to 21 months in prison in the New Jersey deli case.
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