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.



Tristian O'Kelley Gets 10-Year Sentence For Selling Large Quantities Of Marijuana, Being Felon With Guns

A Tunnel Boulevard man has been sentenced to serve 10 years in federal prison for selling large amounts of marijuana and being a convicted felon in possession of weapons. Tristian O'Kelley, 28, appeared before Judge Sandy Mattice. On Sept. 30, 2016, Chattanooga Police narcotics detectives, with the assistance of special agents with the Bureau of Alcohol, Tobacco, Firearms ... (click for more)

Latest Bradley County Arrest Report

Click  here  for the latest Bradley County arrest report. (click for more)

Trump - And Response

Hardly a day, even a moment, goes by when some news flash appears sharing what  Trump  said or did. Not catchy and cute as we might feel when we see the baby turn over for the first time or say Da, da. Instead, this grown man and our president defies child cooing and smiling and instead frowns amid growing anger that we voted for this man, a grown up not quite potty-trained.  ... (click for more)

Roy Exum: New Schools On Agenda

Hamilton County School Superintendent Bryan Johnson confirmed on Wednesday that a plan for several new public schools will be included on Thursday night’s School Board agenda. Hamilton County has fallen woefully behind other metro school districts in the state and, with an estimated $340 million in deferred repairs, upgrading facilities - that now average over 40 years old - was ... (click for more)

Signal Mountain Hits One Last Bump In The Road At State Volleyball

MURFREESBORO, Tenn. – It’s not like Signal Mountain hasn’t been down this bumpy road before. Despite the obstacles created by losing early in the TSSAA state volleyball tournament, the Lady Eagles have proven to be cautious, but relentless drivers on a path back to title contention twice before. They’re on the same course this October. After losing to Knox Catholic ... (click for more)

Baylor Advances To State Final; Sale Creek Ousted

MURFREESBORO, Tenn. – The Baylor Lady Red Raiders are one win away from another D-II Class AA state volleyball championship. Facing the Brentwood Academy Lady Eagles for the third time this season here at Blackman High School Wednesday morning in the winner’s bracket final, Baylor was able to advance by winning in four sets, but it was a battle for the ages where two really good ... (click for more)