Lawyer linked to creation of $100 million New Jersey deli firm pleaded guilty in shell company scheme

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Now-disbarred lawyer Gregg Jaclin is linked to the creation of deli owner Hometown International, which is run by high school wrestling coach Paul Morina.

was itself incorporated in Nevada.Hometown International and its executives have not been accused by the SEC or other government authorities of wrongdoing.Hometown International's stock, which trades on the over-the-counter market, plummeted by about 33% in the hours after trading began Friday morning. A day earlier, CNBC had published articles about the company's unusually high market capitalization, which was first noted in a letter hedge fund manager David Einhorn sent to clients.

Hometown's vice president and secretary is Christine Lindenmuth, a math teacher and administrator at the same high school.The biographies of Morina and Lindenmuth in SEC filings do not mention any prior experience by either of them in the food service industry, a publicly traded corporation, or the financial industry.

"Future success is highly dependent on the ability of management to locate and attract a suitable acquisition," Hometown said in a filing last year.Key shareholders of Hometown International also include entities in Hong Kong and Macao, China, a mecca for high net worth gamblers.that also has operated a luxury hotel in Macao known as The 13.Coker's father, Peter Coker Sr., is listed in financial filings as another key shareholder in Hometown.

"We anticipate extending the term of the Consulting Agreement with Tryon for an additional one-year term," Hometown's annual report says. Bizzell's suit said the defendants "deviated from" their stated use of his money, which amounted to hundreds and thousands of dollars and converted his interest as a debtor into equity.A filing in August 2020 indicated that the lawsuit was voluntarily dismissed by Bizzell with prejudice, which is normal when civil lawsuits are settled by the parties out of court.

 

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Financial engineering is sweet science and should be thought in classes.

The Accountant had a shell company, ZZZ Accounting. goodmovie

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