Two men from the Derby area and one man from Texas are charged with multiple financial and securities fraud crimes, resulting in a potential loss of tens of millions of dollars for victims as part of a Ponzi scheme.
A grand jury in Wichita returned the indictment in the case.
54-year-old Steve Parish, formerly of Derby, 66-year-old Richard Dean of Plano, Texas, and 39-year-old Joshua Owen of Derby were all indicted on one count of conspiracy to commit bank and wire fraud.
Parish also faces multiple charges, including 18 counts of securities fraud, and 11 counts of money laundering.
Dean is indicted on 18 counts of securities fraud.
The grand jury indicted Owens on two counts of bank fraud.
Parish was the chief executive officer of Premier Global Corp., a company offering investments and promissory notes to supposedly purchase factored invoices. Owens was an employee. Dean was the owner of DDI Advisory Group LLC.
The three men allegedly falsified records and misrepresented payments to investors as profits, but were making those payments using money coming from investors. Parish is accused of misappropriating investors’ deposits for his own personal expenses.
The Federal Bureau of Investigation is handling the case with assistance from the Kansas Department of Insurance, Securities Division, and the Oklahoma Department of Securities.