- Associated Press - Thursday, April 2, 2015

JACKSON, Miss. (AP) - Two former executives of a Madison County company have pleaded guilty to conspiring to mislead investors in Mississippi and Alabama about a monitoring system for nursing homes that could help improve the overall care of patients.

Federal prosecutors say in a news release that Mark Rodgers and Samer N’Ser will be sentenced June 15 in U.S. District Court in Jackson. The maximum penalty for conspiracy is five years in prison and a fine of up to $250,000.

Court records show the two each pleaded guilty to one count of conspiracy in March. They were indicted last year.

Rodgers was the chief executive officer of Samarion Solutions Inc., formerly known as Valence Broadband Inc., and N’Ser was the company’s chief technology officer, according to a statement from Davis’ office.

The indictment alleges from about 2006 through 2009, Rodgers and N’Ser conspired to fraudulently misrepresent to potential investors material facts that would affect their decision to invest, including the company’s financial strength and the monitoring system’s true functionality and capacity, the statement said.

The indictment also said 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 the money for their own personal benefit.

Rodgers and N’Ser also face state criminal charges in Alabama.

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