WICHITA, Kan. (KWCH) – Two Kansas men and one man from Texas are charged with multiple financial and securities fraud crimes that resulted in a potential loss of tens of millions of dollars for victims.
A Wichita grand jury returned the indictment in the case.
According to court documents, Steve Parish, 54, formerly of Derby, Kansas, Richard Dean, 66, of Plano, Texas, and Joshua Owen, 39, of Derby, Kansas, were all indicted on one count of conspiracy to commit bank and wire fraud.
Charges against Parish
Parish is charged with two counts of bank fraud, 11 counts of money laundering, one count of conspiracy to commit securities fraud, 18 counts of securities fraud, and one count of wire fraud.
Dean was indicted on one count of conspiracy to commit securities fraud, and 18 counts of securities fraud.
The grand jury indicted Owen on two counts of bank fraud and one count of wire fraud.
The alleged scheme
Parish was the chief executive officer of Premier Global Corp, a company that offered investments and promissory notes to supposedly purchase factored invoices. Owen was an employee. Dean was the owner of DDI Advisory Group LLC.
Parish, Dean, and Owen allegedly falsified records and misrepresented payments to investors as profits but were making those payments using money that came from investors. Parish is accused of misappropriating investors’ deposits for his own personal expenses.
The Federal Bureau of Investigation is investigating the case with asssitance from Kansas Department of Insurance, Securities Division and the Oklahoma Department of Securities.
Assistant U.S. Attorneys Aaron Smith and Katie Andrusak are prosecuting the case.
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