Connect with us

Hi, what are you looking for?

HOME // Phuket News // American arrested in Phuket over alleged “stock manipulation”

American arrested in Phuket over alleged “stock manipulation”

Arrest of Peter Coker in Phuket
PHOTO: Police arrest Mr Croker in Surin - Wassayos Ngamkham

A 54 year old US citizen has been arrested in the Thalang district (north of the island) over alleged stock manipulation and fraud.

Mr Peter Coker had a warrant for his arrest issued on December 27, 2022, based on red notices issued for him on Interpol). He is charged with… “colluding in stock fraud, fraudulent manipulative securities trading and related offence”.

Mr Coker was arrested last Wednesday in his accommodation near Surin Beach, in coordination with the US FBI. It’s been evealed that Mr. Coker is also a citizen of St Kitts and Nevis in the Caribbean. The alleged share manipulation relates to two companies he was involved in, Hometown International and E-Waste Corp.

Mr Coker and other business partners then were able to bring the company Hometown International to the market with an initial public offering of US$1.25 per share before contracting a third party stock trader to “manipulate” the share price. Two years later the stock price had risen to US$12.99. In the same time some 3.5 million shares were transferred to nominees based in Macau.

Jail terms for such crimes could reach 20 years. The suspect’s father and a Mr. James Patten were arrested in the US in the weeks before Mr Coker Jnr was located and subsequently arrested in Phuket. He is now in custody awaiting an extradition hearing.

SOURCE: Bangkok Post

Advertisement Phuket Go Advertisement sidebar_1


5 Star Marine Phuket

You May Also Like

National News

UPDATE: There has been another NOTAM (Notice to Air Missions) issued in the past 24 hours which changes Item 5, which MAY provide an...

Phuket News

Wednesday, September 27, 2023 – Phuket weather and tide report (9am) The worst of today’s rain is probably behind us with the intensity dropping...

Phuket News

While many Russians have been investing in villas and homes in Thailand, there are also thousands of Russians and Ukrainians who are stranded in...

National News

UPDATE: Monday 3pm – Thai Public Health minister Anutin Charnvirakul has CANCELLED the need to provide proof of Covid vaccination certificates before entering Thailand on...