Investors Who Lost In Dyer/Brennan Scheme Furious At Seeing Dyer At UTC Games; Attorney Says He Takes Disabled Brother To Work Games

Friday, September 22, 2017

Two victims in an investment scheme by Doug Dyer and James Brennan said they were furious to see Dyer continuing to attend UTC sporting events. Dyer is a past president of the Mocs' Quarterback Club.

In two victim letters prior to the Dyer/Brennan sentencing next Friday - from Mickey McCamish and Mark E. Smith, they state that Dyer bought season tickets to UTC football and has shown up in attendance at UTC basketball games.

Mr. McCamish states, “This infuriates us investors to think of how we were cheated and Doug lives a life that everything is okay.” Mr. Smith states, “his arrogance is unspeakable.”

Attorney Lee Davis said Dyer drives his disabled brother, Steven, to employment at UTC basketball games, "where as a disabled person, Steven needs the accommodation provided by the Defendant."

The attorney also said that UTC football season tickets were purchased by the Defendant’s wife, Alison Dyer, for $95 for general admission seating. He said Ms. Dyer also made a donation in the amount of $75.

Attorney Davis said, "The Defendant graduated from UTC, he has supported UTC sports his entire life and, despite this current prosecution, the Defendant continues to support his disabled brother’s employment at UTC."

Mr. McCamish also said in his letter, “the Defendant continued to make business deals when told to 'cease and desist' by Judge McDonough.” Attorney Davis said, "This statement is false. There were no business transactions after July 20, 2016."

Mr. McCamish said he has received several harassing phone calls. Attorney Davis said, "To the extent that Mr. McCamish believes that the Defendant, his family, his friends, or his attorney is involved in any of these phone calls that assertion is wrong."

In his letter, Samuel Smith states, “I was surprised to learn of Dyer’s serious personal health problems since he appears fit and until recently played golf regularly.” Attorney Davis said Dyer has not played golf or been a member of the Chattanooga Country Club for more than 12 years and he has a serious and life-threatening health condition."

Also, Mr. Smith states that he invested $50,000. Attorney Davis said, "As stated in the government’s discovery, the FBI investigation, and the Defendant’s bank records, Mr. Smith’s loss amount is $25,000."

In another victim letter, James D. Ross states, “Washburn was paid placement fees for this transaction as well as gas and oil lease bank transactions in Colorado culminating in additional investor losses of over $5 million.” Attorney Davis said, "This alleged transaction is not the subject matter of this case. This matter does not involve the Defendants. The Defendant has no information regarding this gas transaction."

Mr. Ross further states that “other losses include lost opportunity costs of $123,8000.” Attorney Davis said, "As stated in the government’s discovery, the FBI investigation, and the Defendant’s bank records, Mr. Ross’ loss amount is $20,000."

Robert M. McAllester said in his letter, “I invested $200,000 into the Scenic City securities sold by Doug Dyer and James Brennan.” Attorney Davis said, "As stated in the government’s discovery, the FBI investigation, and the Defendant’s bank records, Mr. McAllester’s loss amount is $25,000. The Defendant submits that Mr. McAllester is mistaken in the loss amount in his letter to the Court."



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