Sentencing News & Analysis

James Patten Seeks No Prison Time in $100M Deli Fraud Case

James Patten, the final defendant in a $100 million deli stock manipulation case, is requesting no prison time despite a felony conviction. His attorney cited co-defendant Peter Coker Sr.'s six-month sentence as a reference point. Prosecutors recommended a 12 to 18-month sentence for Patten, noting that federal guidelines suggest 70 to 87 months. Patten, who pleaded guilty in December 2023, has been employed since then, working as a warehouse materials handler and part-time handyman. This case highlights ongoing issues of securities fraud, which could affect investor confidence in small-cap stocks.