Houston, Texas Man Indicted in Madison County, Alabama for Alleged Securities Act Violations MONTGOMERY, ALABAMA (May 15, 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 Mark E. Rodgers, of Houston, Texas was arrested May 13, 2014 in Madison County, Alabama for alleged multiple violations of the Alabama Securities Act. Rodgers was taken into custody by Madison County, Alabama Sheriff’s deputies after being extradited from Madison County, Mississippi where he had been held under separate federal charges. Rodgers remains incarcerated under a $255,000 cash bond with arraignment scheduled for July 23, 2014, and trial set for August 4, 2014 in Madison County, Alabama Circuit Court. Rodgers’ arrest stems from an April, 2014 Madison County, Alabama Grand Jury indictment charging him with 18 total counts of violations of the Alabama Securities Act, including one count each of Sale of Unregistered Securities, Sale of Securities by an Unregistered Agent and Conspiracy to Commit Securities Fraud. He is 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, Rodgers, acting as an officer for Jackson, Mississippi-based Samarion, Inc., illegally offered and sold shares of the company stock to Alabama investors without being registered with the Alabama Securities Commission to conduct securities business in the state. 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.
Posted on: Thu, 15 May 2014 19:18:49 +0000
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