SMP Library
Saga of Network Technologies Group, Inc.
as covered in The Daily Record
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 only recovers $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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- The Daily Record
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Ex-NTG execs face fed fraud indictments
- January 23, 2003 Other Business News
by Kathleen Johnston Jarboe, Daily Record Business Writer
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Clues to alleged fraud unfold in hindsight
- February 8, 2003 Other Business News
by Kathleen Johnston Jarboe, Daily Record Business Writer
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Even turn-around specialist was stunned by books
- February 15, 2003 Top Stories
by Kathleen Johnston Jarboe, Daily Record Business Writer
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NTG's ex-CEO pleads guilty to fed fraud charge; must cooperate
- February 21, 2003 Business News
by Kathleen Johnston Jarboe, Daily Record Business Writer
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NTG's CFO admits guilt in fraud
- February 28, 2003 Business News
by Kathleen Johnston Jarboe, Daily Record Business Writer
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Employees finished jobs on own despite NTG collapse
- March 1, 2003 Business News
by Kathleen Johnston Jarboe, Daily Record Business Writer
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Suit: Auditors share blame for NTG loss
- March 7, 2003 Business News
by Kathleen Johnston Jarboe, Daily Record Business Writer
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Collard: Contract based on bad info
- March 11, 2003 Business News
by Kathleen Johnston Jarboe, Daily Record Business Writer
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Former NTG employees will get 401(k) money thought lost
- June 19, 2003 Business News
by Kathleen Johnston Jarboe, Daily Record Business Writer
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Award Affirmed
Court of Special Appeals Upheld a $59,500 Verdict Against Two Former Directors of
Network Technologies Group, Inc.
- February 2, 2007 Law Notes
by Barbara Grzincic, Daily Record Legal Affairs Editor
- Baltimore Business Journal Coverage
- The Baltimore Sun 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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The Future. Now.
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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.
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