MEN INDICTED IN MULTI-COUNT SECURITIES FRAUD SCHEME WITH POTENTIAL LOSSES IN THE TENS OF MILLIONS

A federal grand jury in Wichita has returned a sweeping indictment charging three men with a broad array of bank fraud, wire fraud, money laundering, and securities fraud offenses tied to an alleged investment scheme that prosecutors say exposed victims to potential losses totaling tens of millions of dollars.

The defendants are Steve Parish, 54, formerly of Derby, Kansas; Richard Dean, 66, of Plano, Texas; and Joshua Owen, 39, of Derby, Kansas. All three are charged with conspiracy to commit bank and wire fraud, forming the core of what authorities describe as a coordinated financial deception operation.

According to the indictment, Parish faces the most extensive set of charges. In addition to the conspiracy count, he is charged with two counts of bank fraud, eleven counts of money laundering, one count of conspiracy to commit securities fraud, eighteen counts of securities fraud, and one count of wire fraud. Dean is charged with one count of conspiracy to commit securities fraud and eighteen counts of securities fraud, while Owen is charged with two counts of bank fraud and one count of wire fraud.

Court filings identify Parish as the former chief executive officer of Premier Global Corp, a company that marketed investments and promissory notes to investors under the premise that funds would be used to purchase factored invoices. Owen was employed by Premier Global Corp, while Dean operated DDI Advisory Group LLC, which prosecutors allege played a role in facilitating or promoting the scheme.

Investigators allege that the defendants falsified records and misrepresented investor payments, portraying them as legitimate profits when, in reality, those payments were allegedly funded with money obtained from other investors. Prosecutors characterize the operation as a classic recycling of investor funds designed to create the illusion of returns while masking underlying losses.

The indictment further alleges that Parish diverted investor deposits for personal expenses, an action that underpins multiple fraud and money laundering counts. Authorities contend that these misappropriations were concealed through layered financial transactions intended to obscure the origin and use of funds.

Federal investigators state that the scope of the alleged scheme, the volume of transactions, and the number of affected investors significantly elevated the financial risk profile, prompting a multi-agency investigative response.

The case is being investigated by the Federal Bureau of Investigation, with assistance from the Kansas Department of Insurance, Securities Division, and the Oklahoma Department of Securities, reflecting the multi-jurisdictional nature of the alleged conduct.

The prosecution is being handled by Assistant United States Attorneys Aaron Smith and Katie Andrusak.

Federal authorities emphasized that an indictment represents formal allegations only. All defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

TRJ NOTE
The continued vulnerability of investors highlights the persistence of complex securities schemes that blend legitimate financial terminology with deceptive fund flows. The use of layered entities, recycled investor payments, and falsified documentation remains a recurring pattern in large-scale financial fraud cases, often allowing schemes to persist until losses reach catastrophic levels.

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