Saturday, February 27, 2016

Bad Samarions going to jail

U.S. Attorney Greg Davis issued the following press release.


Jackson, Miss – Mark E. Rodgers, 53, currently from Houston, Texas, the former Chief Executive Officer and President of Samarion Solutions, Inc., in Ridgeland, Mississippi, was sentenced today by U.S. District Judge Daniel P. Jordan III to 60 months in federal prison followed by three years of supervised release for his participation in a securities fraud conspiracy, announced U.S. Attorney Gregory K. Davis, FBI Special Agent in Charge Don Alway, and Joseph Borg, Director of the Alabama Securities Commission. A forfeiture of $312,063.70 in the form of a money judgment was also ordered.

Samer N’Ser, 54, of Ridgeland, the former Chief Technology Officer of Samarion Solutions, Inc., was also sentenced today by U.S. District Judge Daniel P. Jordan III. N’Ser was ordered to serve 37 months in federal prison followed by three years of supervised release for his participation in the conspiracy. A forfeiture of $100,000 in the form of a money judgement was ordered.

Rodgers and N’Ser were ordered to pay $14,884,389.35, jointly and severally, in restitution to defrauded investors.

Beginning in 2006 and continuing until approximately October, 2009, Rodgers and N’Ser conspired to intentionally mislead Samarion, Inc., investors in Mississippi, Alabama and elsewhere. During that time, Samarion, Inc., formerly known as Valence Broadband, Inc., was a corporation operating out of Madison County, Mississippi. The business plan of the company was to produce a viable monitoring system, commonly referred to as the “Samarion Solution”, for installation in nursing homes, and elsewhere, that could predict when a patient might fall, and prevent abuse and/or neglect by staff, and improve the over-all care of nursing home patients. Rodgers and N’Ser engaged in a course of business which operated as a fraud and deceit upon the purchasers of the stock, using wire communications and the U.S. Mail to further that activity.

Both Rodgers and N’Ser were involved in the offer and sale of stock to investors and conspired to fraudulently misrepresent to potential investors material facts that would affect their decision to invest, including the financial strength of the company and the true functionality and capacity of the product, among other things. Rodgers and N’Ser sold stock to investors representing that the investment funds would be used solely for the business purposes of the company, and instead used some of the money for their own personal benefit, including personal loans to each, an unauthorized bonus for Rodgers, and the purchase of a 2007 Land Rover SUV titled in Rodgers name. N’Ser and Rodgers fraudulently used Samarion investor funds to loan approximately $500,000 to C First Class Corporation, a company that was unrelated to Samarion or its business purpose, but for which Rodgers also served as a board member. Rodgers fraudulently concealed his personal interest in that company from the Samarion Board of Directors.

“Rodgers and N’Ser convinced approximately 300 clients to invest millions of dollars in their company through fraud and deceit,” said U.S. Attorney Gregory K. Davis. “The United States Attorney’s Office will continue to work with federal, state and local investigative agencies to pursue and prosecute those who seek to defraud investors and damage the marketplace.” U.S. Attorney Davis praised the work of the FBI, the Alabama Securities Commission, Madison County, Alabama, District Attorney’s Office, and the Madison County, Alabama, Sheriff’s Department.

“Those who illegally use their insider position for personal financial gain threaten the stability and confidence of our financial systems here in Mississippi and throughout the United States,” said Don Alway, Special Agent in Charge of the FBI in Mississippi. “Unfortunately, there are likely many more of these kinds of cases out there. Rest assured, the FBI in Mississippi will aggressively investigate these violations.”

Joseph Borg, Director of the Alabama Securities Commission said, “I want to thank the Office of Greg Davis, United States Attorney for the Southern District of Mississippi; the Federal Bureau of Investigation; the Office of Robert L. Broussard, Madison County, Alabama District Attorney; the Madison County, Alabama Sheriff’s Department and the Alabama Securities Commission staff for working together to ensure this conviction and to see that justice was served for the victims. The successful prosecution demonstrates the outstanding results that are achieved when federal, state and local law enforcement work together.”

This case was prosecuted by Assistant United States Attorney Carla J. Clark, Chief of the Criminal Division. It was investigated by the FBI with assistance from the Alabama Attorney General’s Office and the Alabama Securities Commission.

Kingfish note: Clowns?  Read some excerpts from a complaint filed by the trustee in Samarion's bankruptcy case:

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

 "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.
 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.  Read the comments as well.


Anonymous said...

not sure how anybody bough in to this scheme. I heard their pitch. they didn't have anything that actually worked and came across as slimy

Anonymous said...

Where are the mugshots of these fraudsters?

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Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).

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In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.

In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS.

Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS