Hometown Deli

[Wrestleknownothing]

I think this was a thread on the old board, but I figured I would bring the story full circle.

The wrestling angle was due to the fact that the deli at the heart of the fraud had been owned by longtime wrestling coach, Paul Morina. Morina had nothing to do with the fraud.

https://www.cnbc.com/2024/12/19/father-son-plead-guilty-in-100-million-new-jersey-deli-stock-scheme.html

[1032004]

Good to hear.  IIRC the guy Patten was either a teammate or wrestler of Morina though.
 

Morina seems to be a standup guy so I’m sure most figured he wasn’t involved.  He’s gotta be up there for one of the best coaches in the country.  I know they get some move-ins, but the total enrollment is only like 400 and it’s not a great area and smells like all the nearby oil refineries

[ionel]

Drinking my morning coffee and see this thread and open so as to salivate over pastries and such only to find nothing but financial non wrestling related info.  Worse case I figured it was a good Jimmy thread.  

[Gene Mills Fan]

2 minutes ago, ionel said:

Drinking my morning coffee and see this thread and open so as to salivate over pastries and such only to find nothing but financial non wrestling related info.  Worse case I figured it was a good Jimmy thread.  

right!

[1032004]

2 hours ago, ionel said:

Drinking my morning coffee and see this thread and open so as to salivate over pastries and such only to find nothing but financial non wrestling related info.  Worse case I figured it was a good Jimmy thread.  

Had never heard of this website before but I thought this guy had some good articles when the story came out.  Here’s his review of their pizza steak - https://defector.com/despite-stellar-cheesesteaks-hometown-delis-stock-stays-flat

initial article - talks some about wrestling - https://defector.com/a-cnbc-reporter-ruined-my-lunch-plans-a-visit-to-the-n-j-deli-worth-100-million

update after indictment of the fraudsters -  https://defector.com/feds-publicly-traded-deli-worth-100-million-a-massive-fraud-after-all

update last year when one of the fraudsters pleaded guilty - https://defector.com/man-admits-shocking-truth-that-deli-worth-2b-was-part-of-fraud

[ugarles]

fyi defector is the site that was founded by the deadspin staff who quit deadspin after a venture capital firm bought the site and told the writers to be less interesting.

[1032004]

On 1/7/2025 at 9:35 AM, Wrestleknownothing said:

I think this was a thread on the old board, but I figured I would bring the story full circle.

The wrestling angle was due to the fact that the deli at the heart of the fraud had been owned by longtime wrestling coach, Paul Morina. Morina had nothing to do with the fraud.

https://www.cnbc.com/2024/12/19/father-son-plead-guilty-in-100-million-new-jersey-deli-stock-scheme.html

No way this guy would defraud people