Executives from former nursing home resident monitoring firm Samarion Solutions face up to five years in prison and $250,000 fines after pleading guilty to conspiracy to defraud their firm’s investors.
Mark Rodgers, formerly the CEO at Samarion, pled guilty March 25 to one count of conspiracy to defraud investors in the sale of securities, according to a statement from the U.S. State’s Attorney’s Office for the Southern District of Mississippi that was issued Wednesday. Samer N’Ser, who was Samarion’s chief technology officer, made a similar plea on Jan. 27.
In a complaint filed in bankruptcy court in 2011, a bankruptcy trustee alleged Rodgers and N’Ser had raised more than $16 million from investors with virtually no income ever received and no assets remaining for creditors. The Department of Justice on Wednesday cited the indictment, which said that from 2006 to 2009, Rodgers and N’Ser spent company funds on things such as an unauthorized bonus for Rodgers, a new Land Rover SUV titled in Rodgers’ name, personal loans and other personal assets. In addition, Rodgers also concealed his personal interest in an unrelated company he loaned $500,000 in Samarion funds to, according to the indictment.
Rodgers and N’Ser will be sentenced June 15.
