Lawsuit filed against Derby man accused of Ponzi scheme
DERBY, Kan. (KAKE) - The Kansas and Oklahoma Securities Commissioners have filed lawsuits against a company called Global Premier and its owner Steve Parish.
Investigators say he was running a major Ponzi scheme and misappropriated millions of dollars of investor money to pay for real estate ventures in Belize and Las Vegas. They also say he stole the money to buy houses, condominiums, and airplanes.
He's since disappeared.
Now, KAKE News learned that Parish is accused of being involved in what a Belize newspaper calls illegal construction of what was supposed to be a subdivision.
The report says the government has given Parish a cease-and-desist order.
Parish was fined $100,000 for hurting the ecosystem. KAKE has yet to get a response from Parish, but have confirmed that his wife has filed a missing person's case in San Diego.
The company is called Premiere Global Corporation and it has been operating out of Derby for the last 22 years.
However yesterday a judge ordered a restraining order against it, saying there is a clear threat of immediate and irreparable injury and a concern the owners will try to dissipate their assets and transfer funds.
Today, neighbors tell KAKE News that state and federal agents raided the business and when we got there, it was closed down with no one inside.
Court documents show the Kansas and Oklahoma securities commissioners have filed civil suits in the case against the company and several defendants including the owner, Steven Parish, for running what the state calls a Ponzi scheme.
The securities commissioner says Parish and other owners raised about $100 million from at least 570 investors from 15 different states with the promise of making money but instead, court documents show Premier Global and Parish transferred funds to 21 different bank accounts, used the money for real estate in Belize and Las Vegas and paid expenses for Steven Parish and his family to buy houses, condominiums and airplanes.
As of tonight, the securities commissioner says the last time anyone talked to Parish was October 16 in San Diego. His wife has filed a missing person’s report with law enforcement there and the SEC has no idea where Parish is right now.
KAKE News had left a message on his phone but we haven't heard back.