Man Sentenced for $100M NJ Deli Scam

A man named James Patten was sentenced to 21 months in prison for his role in a scheme to make a small deli in New Jersey worth over $100 million.

The deli, called Your Hometown Deli, was the only asset of a company called Hometown International Inc.

Despite the deli's low sales, the company's stock price was artificially inflated through manipulative trading.

Patten and two other men worked together to trick investors into thinking there was real demand for the shares.

A famous investor named David Einhorn had previously criticized the deli's valuation, joking that the pastrami must be amazing.

Patten had already been convicted of mail fraud in the past.