PAWHUSKA - Claims for damages in excess of $1 million are made in a recent lawsuit filed on behalf of an Osage County oil field services firm involved in business deals brokered by Larry Dearman
as an investment consultant with Focus Group Advisors
The latest court action to be taken in the area case contends that Howell's Well Service Inc., sustained over $700,000 in actual monetary losses as a result of defaults on loans arranged by Dearman, between 2007 and 2011, when he was a Focus Group senior advisor.
In the past six months, more than a dozen civil lawsuits have emerged in the financial scandal.
At least 35 individual and corporate investors - nearly all from Washington and Osage counties - are now involved.
The first Focus/Dearman lawsuit was filed last November, approximately three months after Dearman
had been dismissed from the Bartlesville-based investment firm.
According to the lawsuit petition, four different loans were transacted between Dearman
and the well service company over a 50-month period between August 2007 and November 2011.
The last loan - for $75,000 -was made directly to Dearman
and called for interest to be paid at 10 percent per year.
The first two Howell's loans were for $100,000 each and the third, made in January 2009, was for $200,000.
Both of the early loans were made to Bartnet Wireless
, an internet services provider.
At the time, Bartnet was controlled by Bartlesville businesswoman Marya Gray, a longtime associate of Dearman.
Named as defendants, along with The Focus Group, Dearman and Gray, are Bartnet LLC (as well as Bartnet Wireless Internet Inc.), The Property Shoppe and Focus Group officials Jon Nettles and Daniel Vice.