Dyer, Brennan Say They Plan To Enter Pleas In Upcoming Criminal Case

Sunday, March 19, 2017

Two Chattanooga men who allegedly bilked a host of investors out of more than $5 million say they plan are cooperating with a government prosecutor and expect to enter pleas in an upcoming criminal case.

Douglas Dyer and James Brennan said they are working with prosecutor James Brooks.

The pair was hit earlier by an action by the Securities and Exchange Commission, but no criminal charges have yet been filed.

According to a document filed in the SEC case, the criminal charges are expected soon.

The SEC announced last July that it had won a court-ordered asset freeze to halt "an ongoing fraud by two former Chattanooga brokers with disciplinary histories who allegedly raised more than $5 million from investors without using the money as promised."

The SEC said Dyer and Brennan sold purported shares in eight similarly named companies to more than 240 investors nationwide since 2008 without ever registering the stock as they promised.  Instead, according to the SEC’s complaint, Brennan and Dyer transferred investor funds into their personal accounts or those belonging to their wives. Attorneys now say there were 258 investors.

The action says over a five-year period that Carole Johnston Brennan received $30,000 of the funds and Alison Ford Dyer received $286,000.

SEC attorney Robert Schroeder said following publicity about the case that his office "was inundated" with people with complaints about the pair. He said some went back to 2003.

He said some complainants alleged that the pair sought individuals to send $7,500 and a video and they "could help them become stars."

Attorney Frank Lightmas earlier acknowledged there are not enough assets to cover the millions investors are owed.

He said the SEC had been sent "tons" of financial data, but the SEC said it has not been told who sent what amount of money to Dyer and Brennan and where the money went.

Authorities said it appeared that money went into bank accounts, then was quickly dispersed out of the accounts.


Latest Hamilton County Jail Booking Report

Here is the latest jail booking report from Hamilton County: BANTHER, WILLIAM DEWAYNE  HOMELESS CHATTANOOGA, 37405  Age at Arrest: 59 years old Arresting Agency: Hamilton County PROBATION VIOLATION (EVADING ARREST) --- BOHANNON, HENRY CHRISTOPHER  1915 SANDER DRIVE CLEVELAND, 37323  Age at Arrest: 27 years old Arresting Agency: Hamilton County ... (click for more)

Bradley County Detectives Seek Information On Man Caught On Surveillance Video

Detectives are asking for the public’s assistance in identifying a man captured on surveillance footage. On March 25, patrol deputies responded to AirSystems Unlimited, which is a local business located at 5668 South Lee Highway, in reference to a vehicle burglary. It was discovered a cell phone and car battery were taken out of a company vehicle which was in the parking lot. ... (click for more)

Slaxxon Regret - And Response

Back in the seventies my three oldest brothers had a buddy named Steve Slack. “Slack” was a star soccer player at Baylor and he grew up on Lookout Mountain, which is where I grew up. He and Jimmy, Henry and Bill went to the University of Virginia where they were roommates in an old, beat up house that was painted pink. Naturally, the place became known as the “Pink Palace” but lest ... (click for more)

Roy Exum: Oh Yes, I Loved West

One of my most beloved friends died early Saturday morning at the age of 67. Then again, West Oehmig’s only brother – King – died a couple of years ago at 63 so it wasn’t by happenstance I remembered Abraham Lincoln’s famous line: “In the end, it’s not the years in your life that count, it’s the life in your years.” Here are two brothers who lived larger than any other pair I can ... (click for more)

Central's Parrott Throttles Ooltewah With 1-Hit Shutout

Ooltewah looked like it was still on spring break. Central was sharp, Brooke Parrott dazzling, Mikayla Gill swung the bat well and the Lady Pounders played like an unbeaten, once-tied ballclub. Parrott threw a one-hit shutout – the hit was a wind-blown pop on the infield – and Gill slapped a two-run double off Kayla Boseman to right-center field in the third inning and ... (click for more)

Notre Dame Thumps Bledsoe Co., 11-1

The Notre Dame baseball team was in a race of a different kind Monday evening and the Fighting Irish came out on top in all three categories. Facing the Bledsoe County Warriors at Notre Dame’s Hunter Field, the Irish beat the rain, they got finished before dark and most importantly, beat the Warriors 11-1 in five innings as they improved to 4-2 overall with the same record in ... (click for more)