Ex-stockbroker gets 21 months for inflating NJ deli to $100m valuation
James Patten, a 67-year-old former stockbroker, has been sentenced to 21 months in federal prison for orchestrating a stock manipulation scheme. The scheme artificially inflated the valuation of a small, unprofitable New Jersey delicatessen to nearly $100 million. U.S. District Judge Christine O'Hearn handed down the sentence on Tuesday in Camden, New Jersey. The ruling brings to a close one of the most unusual securities fraud cases in recent Wall Street history.
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