The Alabama Securities Commission issued the following press release:
Ridgeland, Mississippi Man Indicted in Madison County, Alabama Charged With Alleged Securities Act Violations
MONTGOMERY, ALABAMA (May 8, 2014) Robert L. Broussard, District Attorney for the 23rd Judicial Circuit, Madison County, Alabama; and Joseph Borg, Director of the Alabama Securities Commission (ASC) announced the arrest of Samer N’Ser, of Ridgeland, Mississippi, for alleged multiple violations of the Alabama Securities Act. N’Ser turned himself in to the Madison County, Alabama Sheriff’s Department on May 5, 2014, and was subsequently released after posting a $45,000 bond.
N’Ser’s arrest stems from an April, 2014 Madison County, Alabama Grand Jury indictment charging him with 18 total counts, including one count each of Sale of Unregistered Securities, Sale of Securities by an Unregistered Agent and Conspiracy to Commit Securities Fraud. N’Ser was also charged with 15 counts of Fraud in Connection with the Sale of Securities, including omissions of material facts in the sale of securities; misrepresentation of material facts in the sale of securities and employing a device, scheme or artifice to defraud. At the time the offenses were allegedly committed, all charges were classified as Class C Felonies under Alabama law, punishable by from one to 10 years’ imprisonment and up to a $15,000 fine per charge, upon conviction.
According to the indictment, N’Ser, acting as an officer for Jackson, Mississippi-based Samarion, Inc., illegally offered and sold shares of the company’s stock to Alabama investors without being registered with the Alabama Securities Commission to conduct securities business in the state. Co-defendant, Mark E. Rodgers, of Houston, Texas, remains in custody in Jackson, Mississippi under a $205,000 cash bond, pending extradition to Madison County, Alabama to face similar charges.
The ASC cautions potential investors to thoroughly scrutinize and research any investment opportunity or offer. Contact the ASC with inquiries concerning securities broker-dealers, agents, investment advisers, investment adviser representatives, financial planners, registration status of securities or debt management programs, to report suspected fraud or to obtain consumer information. The ASC provides free investor education and fraud prevention materials in print, on our website and through educational presentations upon request.
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For additional information contact Dan Lord, Education and Public Affairs manager, 334-353-4858.
(NOTE: An arrest or indictment is not evidence that the defendant committed the crime(s) charged. The defendant is presumed innocent until the government meets its burden of proving guilt beyond reasonable doubt in court).
The jury trial for Mr. Rodgers is reset "for the Court's next criminal calendar beginning August 5, 2014 at 9:00 AM in Courtroom 5A (Jackson) Jordan before District Judge Daniel P. Jordan III".
Earlier posts:
Feds indict Samarion execs in Mississippi
Company was not a good Samarion
The jury trial for Mr. Rodgers is reset "for the Court's next criminal calendar beginning August 5, 2014 at 9:00 AM in Courtroom 5A (Jackson) Jordan before District Judge Daniel P. Jordan III".
Earlier posts:
Feds indict Samarion execs in Mississippi
Company was not a good Samarion
2 comments:
Kingfish when was bail raised to $205,000 from $15,000?
How is it N'Ser the 'indigent', a lowly liquor store clerk, bonds out immediately while Rodgers can't? It is also a remarkable coincidence that his "Memo's" cautioning Rodgers are included in the indictment. Rat droppings usually indicate the existence of ???
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