Acting U.S. Attorney Michael M. Simpson announced that Josiah David, also known as Dennis Lee, of Vernon, New Jersey; James Michael Kafes of Carmel, New York; and four corporate entities have been indicted for their alleged roles in a multi-million dollar fraudulent investment scheme and conspiracy to obstruct a grand jury investigation.
The indictment charges all defendants with conspiracy to commit wire fraud, six counts of wire fraud, and conspiracy to obstruct justice. The charged companies are Provision Corporation, LLC; The Premier Healthcare Solution, LLC; Out of Pocket Relief for Americans, LLC; and The Supporters of OPRA, LLC.
According to the indictment, Total Financial Group (TTFG), a Louisiana business run by Denis Joachim until 2017, marketed a Medical Reimbursement Account program called “Classic 105.” This program included monthly administration fees for participants and employers, loans to employees that did not require repayment by the employees themselves, and insurance policies on participants’ lives payable to lenders upon their deaths. After TTFG was shut down following federal search warrants in January 2017 and Joachim pleaded guilty to related fraud charges, David and Kafes sought to create a successor program modeled on Classic 105.
David and Provision created Premier Healthcare Solution for two main purposes: developing a new version of Classic 105 (the “New 105 Plan”) and soliciting investments from individuals who were told they would profit when the plan launched. Despite claims made to investors about imminent launch dates and legal vetting by law firms, the New 105 Plan never launched. Investors contributed over $4 million based on these representations.
Authorities allege that David, Kafes, and their associated entities misrepresented key facts to investors. These included false statements about the status of the New 105 Plan’s launch and its patent protection status. They also claimed funding had been secured from financial institutions and that law firms deemed the plan legitimate. The indictment states that material information was withheld from investors—including David’s prior felony convictions under his original name Dennis Lee, previous lawsuits against him regarding securities violations or consumer protection laws, public warnings issued by state regulators about him, and an order for permanent injunction resulting from Federal Trade Commission action.
Over $550,000 of investor funds were allegedly sent from David, Kafes, and Premier to Joachim through more than 120 transactions.
David and Kafes are further accused of conspiring to obstruct justice during a federal grand jury investigation in the Eastern District of Louisiana. The indictment alleges they agreed for David to withhold material requested by the grand jury and discouraged an investor from cooperating with authorities. On March 27, 2025, Kafes is alleged to have given false testimony under oath before the grand jury.
“An indictment is merely a charge and that the guilt of the defendants must be proven beyond a reasonable doubt,” said Acting U.S. Attorney Simpson.
If convicted on all counts except Count 8 (obstruction), David and Kafes each face up to twenty years in prison per count as well as fines up to $250,000 per count. For Count 8 alone (conspiracy to obstruct justice), each faces up to five years in prison plus similar fines. Each corporate defendant could be fined up to $500,000 per count charged.
Acting U.S. Attorney Simpson credited investigative work by both branches of the United States Department of Labor—the Employee Benefits Security Administration and Office of Inspector General—and acknowledged contributions from the Federal Bureau of Investigation. Assistant United States Attorney Jordan Ginsberg is leading prosecution efforts.
