On October 13, 2022, the Oklahoma Department of Securities (ODS) filed a civil action in
Oklahoma County District Court against Premier Global Corporation of Derby, Kansas and its control person,
Steve Jonathan Parish, along with DDI Advisory Group, LLC of Plano, Texas, and its control person, Richard Dale Dean
as well as numerous sales agents for their parts in connection with the fraudulent offering of securities to hundreds
of individual investors, many retired, in 19 states.
In the action the ODS has alleged that the defendants offered and sold securities in the form of promissory notes
and “transferee agreements” in violation of the securities registration and agent registration provisions of the Oklahoma Uniform Securities Act of 2004 (Act).
In addition to the securities and agent registration violations, it is alleged that the securities were offered and sold in violation of the anti-fraud provisions of the Act.
Among other material misrepresentations and omissions, investors were falsely told that:
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- Premier and its affiliated entities were extremely profitable when in fact they were not; and
- Each “PF” entity, as the issuer of the promissory notes, would own its purchased factored invoice when in fact it did not.
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Investors were also not advised that their money was being used to pay principal and interest to other investors rather than from actual business revenue
and that revenue from any possible factoring activity was in no way enough to support the repayments to investors. Nor were investors advised that substantial
sums of investor money were being used for personal expenses and the payment of sales commissions.
As part of the action filed by the ODS, the Court appointed a receiver to take control of Premier and its affiliated entities and to marshal the assets.
Certain pleadings filed by the ODS are available below. Status reports filed with the Court by the receiver are also available below.
The receiver has also established a website for additional information.
Receivership Website
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INVESTOR INFORMATION SUBMISSION FORM
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Any investors associated with this case should contact the Department using the form below.
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Case Information Reporting Form
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