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The $100 Million Deli with Jamie Loftus

Scam Goddess

Hosted by Laci Mosley

1h 1m
Transcript

Original podcast

Summary

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.

  • Be suspicious of any small local business whose corporate name uses grandiose terms like international or global. 20:40
  • Avoid doing business or financial investments with old friends who have a history of white-collar crime. 29:15
  • Penny stocks traded on over-the-counter markets lack centralized oversight, making them prime vehicles for price manipulation. 32:17
  • Corporate financial reports can expose shocking mismatches between a company's physical revenue and its market valuation. 39:27

Chapters

  1. 0:01
    Podcast Intro and Host Greeting

    Laci Mosley introduces the episode and welcomes listeners to the Scam Goddess podcast.

  2. 2:46
    Jamie Loftus Guest Introduction

    The host introduces Jamie Loftus, author and podcast host, as the episode’s guest.

  3. 3:22
    Jamie Loftus Background and Career

    Jamie discusses her career as a writer, podcast host, and upcoming book author.

  4. 7:10
    Transition to Scam Story

    The conversation shifts from introductions to the main scam narrative involving a deli.

  5. 8:39
    The $100 Million Deli Scam Overview

    Jamie explains the basic premise of the deli scam, the family involved, and the alleged financial scheme.

  6. 10:05
    Corporate Structure and Shell Companies

    The hosts discuss how the deli was incorporated into Hometown International and the use of shell companies to inflate stock value.

  7. 14:57
    Reverse Merger Completion and Aftermath

    Hometown International completes a reverse merger with a bioplastics startup, finalizing the scam and leaving the deli abandoned.

  8. 34:40
    Stock Market Manipulation Tactics

    Explanation of penny‑stock trading, OTC markets, and how insiders pumped the deli’s share price.

  9. 47:26
    Intro and Company Name Change

    Hosts discuss the rebranding of the deli’s parent company and its continued trading under the old name.

Highlights

  • 9:23

    A $100 Million Delidata

    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.

  • 19:37

    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.

  • 33:13

    Exploding Stock Valuationsdata

    Despite losing money and selling almost no food, Hometown International's stock skyrocketed by 939 percent through internal share trading.

  • 39:27

    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.

  • 48:53

    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.

Quotes

  • “I love the Philadelphia International Airport.”
    Laci Mosley · 12:10
  • “$100 million on the stock market.”
    Laci Mosley · 9:09
  • “The OTC doesn't kick companies out if they break the rules.”
    Laci Mosley · 32:24
  • “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.”
    Laci Mosley · 17:32
  • “I was like paid in cash under the table.”
    Unnamed speaker · 15:02
  • “Because that's a brand at this point. Nobody knows Machimer.”
    Laci Mosley · 47:33
  • “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.”
    Laci Mosley · 50:03
  • “You can trace most things back to people hating black people.”
    Laci Mosley · 49:28
  • Rapsodo 0:46–2:23
  • Scam Goddess 1:02:36–1:02:42
  • KISSIMTA 1:04:28–1:05:03
  • OnDeck 1:05:10–1:05:51

About this episode

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.

Transcript

0:00
1:01:37

12,531 words · 7 speakers

Speaker names marked are inferred from speaking time and the show’s known hosts — they are not voice-verified.

Topics

  • Hometown International
  • Paulsboro
  • Mensa
  • Louvre
  • New Jersey
  • Raw Dog
  • The Tower
  • Philadelphia International Airport
  • Paulsboro High School
  • North Carolina

Page updated · transcript and summary are machine-generated