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: ABBOTT, JEREMIAH JASON  HOMELESS ,  Age at Arrest: 35 years old Arresting Agency: Collegedale Booked for Previous Charges or Other Reason(s) --- ANDERSON, JACOB QUINTON  1101 NORMAN CHAPEL ROAD NW CLEVELAND, 37312  Age at Arrest: 21 years old Arresting Agency: Chattanooga DRIVING ... (click for more)

Latest Hamilton County Jail Booking Report

Here is the latest jail booking report from Hamilton County: ADKINS, ANGELA KAY  248 11TH AVENUE DAYTON, 37321  Age at Arrest: 48 years old Arresting Agency: Hamilton County POSSESSION OF DRUG PARAPHERNALIA DRIVING ON REVOKED, SUSPENDED OR CANCELLED LICENSE FINANCIAL RESPONSIBILITY CONTROLLED SUBSTANCE IN SCHEDULE II --- AMEY, ALEXANDER  2005 ... (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: ‘Ballooniac’ Fined $25K

The Calgary Stampede is one of the biggest events in Canada and every year it draws well over 1.5 million people to one of the most beautiful places in the world. It started in 1912 as a big rodeo event and today it lasts 10 straight days. A highlight is the chuck-wagon races, where $4 million of advertisements are sold on the wagon’s canvas covers and there are pancake breakfasts ... (click for more)

South Pittsburg Wins Lookout Valley Invitational

The South Pittsburg Lady Pirates are playing pretty good softball these days and they rewarded themselves by winning the Lookout Valley Invitational Saturday afternoon at Lookout Valley Elementary’s O’Mary-Conard Field. The Lady Pirates won their pool with wins over Grundy County and CSAS on Thursday and Friday before beating Covenant Christian in the second semifinal Saturday ... (click for more)

Columbia Academy Stymies Soddy-Daisy 4-2

Soddy-Daisy won two games in the Ooltewah Invitational on Friday and hoped to carry that momentum over to Saturday’s contest against Columbia Academy at Tom Higgins Field. But the Trojans ran into junior left-hander Baylee Dees. Dees, who transferred to Columbia Academy from Page prior to the current school year, limited the Trojans to two hits and a run over six innings. ... (click for more)