Topeka, Kan. – Kansas Insurance Commissioner Vicki Schmidt and Attorney General Kris Kobach, today, announced that an Olathe man has been sentenced to prison for securities fraud.

Michael Davin, age 69, was sentenced in Johnson County District Court on July 17 to 88 months in prison for one felony count of securities fraud. Davin pleaded guilty and was taken into custody last week to begin his prison sentence. In addition to the prison time, Davin was ordered to pay $702,694.76 in restitution to his victims.

Davin was convicted for his role in a scheme with Premier Global Corporation. The Kansas Department of Insurance’s civil case against Premier Global Corporation and other defendants remains ongoing.

“White collar crime – like securities fraud – carries real consequences for those who seek to defraud Kansans,” said Commissioner Schmidt. “These types of convictions are a testament to the diligent work of our Securities Division and the Office of the Attorney General.”

“Securities fraud creates an enormous and lasting impact on investor victims and their families, with harms far beyond the loss of financial security,” said First Assistant Attorney General Stacy Edwards, who prosecuted the case on behalf of the Kansas Attorney General’s Office. “We believe justice has been served by a prison sentence in this case.” Assistant Attorney General Rebecca Silvermintz assisted in prosecuting the case and added, “Individuals in vulnerable positions are often the targets of financial criminal activity. It is our privilege to be able to bring forth justice on behalf of these victims, and the state of Kansas.”

The Securities Division of the Kansas Department of Insurance investigated the case, which was prosecuted by the Kansas Attorney General’s Office.

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