SMP Library
Saga of Network Technologies Group, Inc.
as covered in the Baltimore Business Journal
Strategic Management Partners
A nationally recognized turnaround management firm
specializing in interim executive leadership, asset recovery,
and investing in underperforming troubled companies.
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NTG Total Press Coverage Summary
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The rise and fall Saga of Network Technologies Group, Inc.
Collard Discovers Bank Fraud and Accounting Irregularities, the 2nd day on job.
The company is forced to liquidate amidst Federal and State Investigations.
Four top executives indicted on federal charges of mail, wire and bank fraud.
Mercantile recovers only $2M of the $3.5M it had invested.
The company grew to $30 million in 2001, but then the telecommunications
slowdown was a catalyst for management to 'cook-the-books'. John M. Collard was
hired by the equity investors as Chief Executive Officer on July 1st, 2002, and found bank fraud, theft,
money laundering, and accounting irregularities on July 2nd.
The company could not find additional investors to put in more cash and couldn't make payroll July 12th. Collard
was forced to lay off all 125 employees, while authorities looked on.
Police presence was necessary to maintain order. The company assets were auctioned off on August 27th
to partially repay Mercantile, the primary secured creditor.
Investigations by both Federal and State authorities produce Federal Grand Jury indictments for
mail, wire and bank fraud against top executives.
News as Covered by:
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- Baltimore Business Journal
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Tech firm names new CEO
- July 1, 2002 online edition
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NTG shuts down; CEO alleges accounting irregularities existed
- July 12, 2002 online edition
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Tech community hit hard by NTG failure
- July 19, 2002 print edition
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NTG CEO: Law enforcement involved
- July 23, 2002 online edition
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CEO: NTG insolvent last year
- July 26, 2002 print edition
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NTG exec: It was 'Catch-22'
- August 2, 2002 print edition
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F&D caught up in NTG
- August 9, 2002 print edition
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With NTG gone, competitors see opportunity
- August 16, 2002 print edition
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Merc to seek NTG payback
- Bank targets Tobin's assets to get $3.5M
- August 23, 2002 print edition
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Last of NTG assets sold at auction
- August 27, 2002 online edition
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NTG exec claims loans were forged
- August 30, 2002 print edition
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Mercantile hits road blocks in NTG drama
- November 1, 2002 print edition
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Filing: Former NTG chief's debts top $1M
- January 10, 2003 print edition
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NTG execs indicted on federal fraud charges
- January 22, 2003 online edition
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Court filing: NTG's Tobin took company money
- February 3, 2003 online edition
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Baker pleads not guilty in NTG case
- February 4, 2003 online edition
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Second former NTG executive pleads not guilty
- February 5, 2003 online edition
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Tangled wires
How a 'great place to work' became a target for federal prosecuters
- February 14, 2003 online edition
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Tobin pleads guilty to one charge of wire fraud
- February 20, 2003 online edition
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NTG's former finance chief pleads guilty
- February 27, 2003 online edition
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Collard suing NTG, board members
- March 6, 2003 online edition
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Investor sues NTG auditor
Ellin & Tucker among defendants in case
- March 7, 2003 print edition
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Judge: NTG Directors At Fault, Must Pay Interim CEO
"Nora Zietz and Robert Stewart made material misrepresentations during the course of their negotiations"
- February 10, 2006 print edition cover
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Appeals Court Upholds Negligence Ruling In NTG Case
"Nora Zietz and Robert Stewart were negligent in their dealings with a
turnaround consultant hired for the company"
- January 29, 2007 online edition cover
- The Baltimore Sun Coverage
- The Daily Record Coverage
- Total Press Coverage
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About the Firm
Strategic Management Partners has
substantial experience advising corporations and individuals on the strategic
and mechanical issues of corporate development and governance, operating management and
turnarounds for asset recovery. Our principal has over 30 years experience in
P/L Management, Strategic Planning and Repositioning, M&A for Strategic
Advantage, Finance, Investing, Raising Funds, Sales/Business Development,
Building Selling and Marketing Teams, and Operational Auditing = In Public &
Private companies = In healthy and crisis situations.
We work with and support the equity capital community to provide assessment studies to determine the situation, planning and strategy
development to direct the company, crisis management to oversee that assets are
not squandered away, workout teams that recover assets, and board level
oversight to keep the client headed in the right direction.
We seek strategic alliances with private equity funds.
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Contact Information
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John M. Collard, Chairman
Strategic Management Partners, Inc.
522 Horn Point Drive
Annapolis, Maryland [MD] 21403
Voice 410-263-9100 Facsimile 410-263-6094 E-Mail
Strategist@aol.com
We serve as experts for comment or quote, please contact us at 410-263-9100
We welcome constructive inquires, please send via E-Mail to:
Strategist.
Copyright © 2002-2007
Strategic Management Partners, Inc.
