According to court records, federal authorities sought to detain one of the men charged in an alleged multiyear fraud scheme.
The man was released after the government agreed to the conditions of his release. The son was also charged. He is currently located in Hong Kong.
The other North Carolina resident was charged on Monday. He and Coker are expected to be in a New Jersey federal court soon.
Three men are accused of securities fraud, wire fraud and money-laundering. Authorities say the men inflated the value of publicly traded companies as they sought merger partners. The men were sued by the SEC.
The market value of both E-Waste and Hometown International was around $100 million. The companies merged with others. The deli sold its remaining inventory for $700 when it closed.
Coker's father was a major shareholder of the company. Business relationships were had with them. He wrestled in high school with the one-time CEO of the deli company and the high school principal. Attempts have been made to get in touch with her.
In order to make it appear that the company had more shareholders than it actually did, the Cokers and Patten transferred shares to family members, friends and associates.
Two co-conspirators in Hong Kong are not named in the indictment. A person familiar with the matter said that neither the founder of Maso Capital nor his colleagues had contact with the investigators. Jain and his colleagues are not the co-conspirators mentioned in the indictment according to this person.
Both Coker Sr. and Patten have checkered pasts.
The man is accused of hiding money from his debts and business related fraud. He has denied any wrongdoing in those cases. The Morning Call newspaper reported in 1992 that he was charged with prostitution and other crimes after he exposed himself to three girls.
A broker can't act as a broker for a broker-dealer. He successfully appealed the SEC judge's sanction in the stock manipulation case. Ira Sorkin was an attorney who was also involved in the case of Bernard Madoff.
The case's next steps were not commented on by the attorneys listed.
The men's lawyers are not expected to work for them anymore. As the case progresses, it was not clear who the men would hire.
Dan Mangan was a contributor to the report.
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