Lawyer linked to creation of $100 million New Jersey deli firm pleaded guilty in shell company scheme



A now-disbarred lawyer who pleaded guilty to federal crimes related to shell company scams is listed as an attorney in early financial documents filed by a New Jersey firm whose stock valuation has risen as high as $100 million or more despite owning just a single, small delicatessen.

The former lawyer, Gregg Jaclin, was copied on communications filed by deli owner Hometown International with the Securities and Exchange Commission in 2015 and 2016, records show.

They include the very first document filed by Hometown with the SEC that is publicly available.

In June 2020, Jaclin pleaded guilty to criminal charges of conspiracy and obstruction of justice. Separately, in a related case, the SEC in 2019 entered a final judgment against him “for running a fraudulent shell factory scheme through which sham companies were taken public and sold for a profit,” a press release noted that year.

The companies involved in that conduct — none of which were Hometown International — were incorporated in Nevada with the assistance of Jaclin, who was disbarred in New Jersey last October for his actions.

Author(s): Dan Mangan

Publication Date: 16 April 2021

Publication Site: CNBC