Written by a model from the transcript; not yet reviewed.
Host Laci Mosley and guest Jamie Loftus examine the wild true story of Hometown International, a small New Jersey deli that achieved a $100 million valuation on the stock market despite losing money and selling only a handful of sandwiches a week. The episode breaks down how high school wrestling coach Paul Marina and his wall-street-conman friend James Patton used shell companies, fraudulent stock trades, and family logins to inflate penny stock prices in a classic reverse merger scheme. The conversation explores the absurd contrast between a sleepy local deli with mismatched furniture and a massive financial fraud that ultimately caught the attention of hedge fund managers and CNBC before federal indictments landed.
Laci Mosley introduces the episode and welcomes listeners to the Scam Goddess podcast.
The host introduces Jamie Loftus, author and podcast host, as the episode’s guest.
Jamie discusses her career as a writer, podcast host, and upcoming book author.
The conversation shifts from introductions to the main scam narrative involving a deli.
Jamie explains the basic premise of the deli scam, the family involved, and the alleged financial scheme.
The hosts discuss how the deli was incorporated into Hometown International and the use of shell companies to inflate stock value.
Hometown International completes a reverse merger with a bioplastics startup, finalizing the scam and leaving the deli abandoned.
Explanation of penny‑stock trading, OTC markets, and how insiders pumped the deli’s share price.
Hosts discuss the rebranding of the deli’s parent company and its continued trading under the old name.
Laci and Jamie discuss how a small-time New Jersey deli with mismatched chairs and Hunt's ketchup somehow reached a $100 million valuation on the stock market.
Selling Five Sandwiches a Daydata
The deli lost a hundred thousand dollars a year while moving only about five sandwiches a day, proving it was never a functioning restaurant.
Exploding Stock Valuationsdata
Despite losing money and selling almost no food, Hometown International's stock skyrocketed by 939 percent through internal share trading.
Hedge Fund Manager's Pastrami Readinsight
Hedge fund manager David Einhorn publicly mocked the deli in a client letter, quipping that the pastrami must be amazing to justify the valuation.
Millions Lost by Universitiesdata
A federal judge noted that unsuspecting investors, including Duke and Vanderbilt universities, lost nearly $5 million in the fraudulent shell company scheme.
“I love the Philadelphia International Airport.”
“$100 million on the stock market.”
“The OTC doesn't kick companies out if they break the rules.”
“The deli is around the corner from Paulsboro High School, which shares the property with a sports practice center where the school's famous wrestling team trains.”
“I was like paid in cash under the table.”
“Because that's a brand at this point. Nobody knows Machimer.”
“I don't like that there's a fine here. That should just be restitution. Give the money back to the people who were scammed.”
“You can trace most things back to people hating black people.”
The incredible Jamie Loftus makes her Scam Goddess return! We've brought the hot dog expert in to help us understand how the fraud sausage at a New Jersey deli became a multimillion-dollar company traded on the stock market. Along the way, she and Laci discuss hometown heroes, fast food menus, and sexy buildings. Support Jamie Loftus and Sexy Buildings Pre-order Jamie's book, The Tower, here: https://us.macmillan.com/books/9781250480422/thetower/ We're on YouTube: Join us on YouTube! See Laci, the guests, and fraudsters: https://www.youtube.com/@ScamGoddess SOURCES https://www.businessinsider.com/new-jersey-deli-100-million-stock-fraud-inside-story-2026-2 https://njbiz.com/nj-deli-stock-scheme-sentencing/ https://www.cnbc.com/2025/05/13/new-jersey-deli-sentencing-coker-stock.html https://www.cnbc.com/2024/12/19/father-son-plead-guilty-in-100-million-new-jersey-deli-stock-scheme.html https://www.nytimes.com/2026/02/16/arts/louvre-museum-ticket-scam-arrests.html https://www.restaurantbusinessonline.com/financing/story-100m-new-jersey-deli https://nymag.com/intelligencer/2021/06/the-usd100-million-new-jersey-deli-a-theory.html https://i.insider.com/6986171ea645d1188188d7ff?width=1300&format=jpeg&auto=webp https://i.insider.com/6986171ea645d1188188d7ff?width=1300&format=jpeg&auto=webp See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
12,531 words · 7 speakers
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