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Securities Fraud Charges Filed Against Lawrence, Former Russell Man

Josh NeyKansas Securities Commissioner Josh Ney (pictured) announced that criminal charges were being filed against Family Homes Inc. and Roderic E. Deines of Lawrence and formerly of Russell.

Deines was charged with 11 felony counts for violating the Kansas Uniform Securities Act, including allegations of securities fraud and the selling of unregistered securities. The criminal complaint alleges that Deines committed securities fraud by unlawfully employing a scheme to defraud at least three 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 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 total over $170,000.

Chris Mann, Senior Staff Attorney for the Kansas Securities Commissioner, urges anyone with information to contact the agency. "If you have been approached by this individual regarding investing in Family Homes, please contact the Office of the Kansas Securities Commissioner at 785-296-3307," says Mann.

The violations listed in the complaint are allegations. Deines should be presumed innocent until proven guilty.

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