Jackson Jambalaya

Here is an interesting little complaint filed in bankruptcy court in 2011 against Ridgeland-based Samarion, Inc, Samarion officers, and several directors.  The bankruptcy trustee alleged Mark Rodgers and Samer N'Ser raised over $16 million from investors to finance  the creation of a super duper new-fangled hi-tech patient monitoring system for healthcare facilities.  However, the company ended up filing bankruptcy. Here are some nice little excerpts from the complaint.


"Pro formas  prepared by Rodgers and Samer and reviewed by the directors projected annual profits over $350 million.  Unfortunately due to the negligence, gross negligence, and breach of fiduciary duties of Samarion's directors and officers, the Samarion Solution was never made to work and the money invested was diverted from its intended use and wasted."

"Samer and Rodgers were both grossly incompetent and unqualified for the task at hand and were of dubious character." Ouch.

"The board failed to require and approve any budget or annual financial plan that would act as a structure for fulfilling the goals and measuring the progress of the company."  Translation: We got a bunch of money but a road map? Who needs a road  map?

"the entire $16 million invested in Samarion was wasted with virtually no income ever received and no assets left in the company to pay creditors much less investors."

"Trustee's review of bank records reveals that $500000 was loaned to a start up airline company in which Rodgers was an investor, $91,060 went to Bluff City Jaguar to buy a Range Rover, for which Rodgers titled in his own name, and the vast majority of the remaining funds comprising the 2006 losses went to Rodgers and N'Ser." 

"Samarion's Board recklessly retained untrustworthy incompetent people to run Samarion."

"Neither Rodgers or N'Ser had the technical background or expertise to develop the idea of the Samarion Solution into a working product or to oversee such development.  Rodgers and N'Ser did not have experience in managing people or finances in the numbers and magnitude required at Samarion.  It is notable that N'Ser is currently working in a liquor store, and Rodgers has recently applied to be licensed as a securities broker. Their current positions are consistent with their actual skill sets."  Double ouch.

"Most importantly, Rodgers did not have integrity and had been fired from his previous job for stealing from his employer. " (p.6).  That is not an ouch. That is an amputation.

"In their 2004 examination, Rodgers and N'Ser took the fifth amendment on all questions related to their employment at Air2Lan and Smartsynch." 

There is more, much more in this complaint.  Worth reading.  Gambling losses. Trips to spas.  Luxury airline wannabes. Swiss bank accounts.  Phony labs.  Phony exhibits and fake demonstrations at trade shows.  Just read the complaint.  First pour a drink. The bankruptcy was finally discharged on February 28, 2014.  .