Securities charges filed against four in Wichita

Jeffrey K. Williams, Mark K. Nordyke, Sherrilynn L. Frierson and Gregory A. Buss, principals at Wichita-based Benessere Holdings, formerly Lion Share Capital, have been arrested and charged with securities fraud, according to the Kansas Securities Commissioner's Office.

All four are charged with multiple counts of securities fraud, loan broker fraud, failing to register as a loan broker and failing to provide the required loan broker disclosure documents.

The state alleges that the four misrepresented or failed to disclose material facts prior to obtaining money from eight clients between March 7, 2008, and July 27, 2009.

Benessere, which is at the Wichita Executive Centre, 125 N. Market, sought loans for business clients, charging an advance fee, according to documents in the case.

Court appearances will begin at 9 a.m. March 16, said Shannon Sims, a spokeswoman for Kansas Securities Commissioner Aaron Jack.

Frierson, 46, and Williams, 39, remained in the Sedgwick County Jail on Thursday afternoon — Frierson on 24 counts, including 18 counts of violating the loan broker act; and Williams on 32 counts, including 20 counts of violating the loan broker act.

Frierson is being held on $50,000 bond; Williams has a $100,000 bond.

Williams, according to a cease and desist order filed against Lion Share in 2009 in Kansas, has a 2005 conviction for fraud in Illinois, which sent him to a federal penitentiary.

Buss and Nordyke have been released on bond, according to jail records. Buss faces 16 counts, including 12 counts of violating the loan broker act; Nordyke was jailed on four counts.

Nordyke did not return a phone message seeking comment. Buss' home voice mail was full, a recording said.

The investigation was conducted by the Kansas Securities Commission, and charges were filed with the help of the Sedgwick County District Attorney's Office.