Lawrence, KS--- A Lawrence man, Roderic Deines has been charged with 11 felony counts, including 4 counts of securities fraud for employing an investment scheme involving a house-flipping business.
Kansas Securities Commissioner Josh Ney announced that criminal charges were being filed against Family Homes Inc. and Roderic (Rod) E. Deines of Lawrence, KS.
Deines has been charged with 11 felony counts for violating the Kansas Uniform Securities Act, including securities fraud and selling unregistered securities. The criminal complaint alleges that Deines committed securities fraud by unlawfully employing a scheme to defraud at least 3 Kansas residents by offering and selling unregistered securities in his business, Family Homes Inc., which he claimed was a house-flipping business that could produce extraordinary investment returns.
All three investors are from Russell, KS, where Deines has had previous residence. The complaint alleges that the funds given to Deines by investors were primarily used for his personal expenses and to pay other investors. Victim losses currently believed to total more than $170,000.
Kansas Securities officials urge anyone with information to contact the agency. and stated if approached by this individual regarding investing in Family Homes, contact the Office of the Kansas Securities Commissioner.