Men indicted for crimes related to securities fraud

WICHITA, KAN. – A federal grand jury in Wichita returned an indictment charging three men with a multitude of financial and securities fraud crimes resulting in a potential loss of tens of millions of dollars for victims.

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. 

Parish is also 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 also indicted on one count of conspiracy to commit securities fraud, and 18 counts of securities fraud. 

A grand jury also indicted Owen on two counts of bank fraud and one count of wire fraud. 

Parish was the chief executive officer (CEO) of Premier Global Corp, a company that offered investments and promissory notes to purportedly purchase factored invoices. Owen was an employee. Dean was the owner of DDI Advisory Group LLC.

Parish, Dean, and Owen allegedly orchestrated a scheme of falsifying records and misrepresenting 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 (FBI) is investigating the case with support 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.

An indictment is merely an allegation, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
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