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.


Walker County Arrest Report For June 19-25

Here is the Walker County arrest report for June 19-25: DUNN            KENNETH     EUGENE        W/M    34        Officer EVANS          DUI, FAILURE TO OBEY TRAFFIC CONTROL ... (click for more)

Latest Hamilton County Jail Booking Report

Here is the latest jail booking report from Hamilton County: ARNOLD, KENNETH ROGER  3711 CLIO AVE CHATTANOOGA, 37407  Age at Arrest: 53 years old Arresting Agency: Chattanooga DOMESTIC ASSAULT --- BALL, JONATHAN N  10208 WYATT LANE SODDY DAISY, 37379  Age at Arrest: 27 years old Arresting Agency: Hamilton County VIOLATION OF PROBATION ( ... (click for more)

Exempt Volunteer Fire Departments From Procurement Policies - And Response (2)

The Hamilton County Commission just grouped a bunch of departments together in an attempt to reign in the CVB. I haven't spoken to any commissioners, but I truly believe it was unknowingly. By mandating that all non profits that receive 25 percent of their revenue follow county procurement policies, they might as well have padlocked all local volunteer fire departments. We expect ... (click for more)

Roy Exum: The Deadly ‘Holy Trinity’

If you have grown tired and calloused to America’s horrifying opioid epidemic, please consider what the epidemic has become. A report last week found that, in the United States, emergency room cases including opioid abuse jumped a staggering 99 percent between 2009 and 2014. It is believed that last year over 60,000 Americans died from drug overdoses and – far worse – more than ... (click for more)

Chattanooga Continues Hot Second-Half Start With Two 6-0 Wins Over Pensacola Sunday

Game One Sunday Andy Wilkins had three hits and two RBI, and Dereck Rodriguez allowed just two hits over six innings as the Chattanooga Lookouts beat the Pensacola Blue Wahoos 6-0 in the first game of a doubleheader on Sunday. Rodriguez (1-0) struck out six and walked two to pick up the win. Up 1-0 in the fourth, Chattanooga added to its lead when LaMonte Wade hit a two-run ... (click for more)

Cleveland High School Selects Joey Knox As Head Wrestling Coach

Cleveland High School has selected Joey Knox as the next head coach for the Blue Raider Wrestling program.  Coach Knox has been with the wrestling program as an assistant since 2013.  During his assistant coaching tenure, the team has secured six Team State Championships, including five individual State Champions and 20 State Medalists.    Cleveland High ... (click for more)