TBA Law Blog

Posted by: Katharine Heriges on Sep 29, 2017
A federal judge sentenced two Chattanooga brokers to prison today after they were convicted of a wire fraud and tax evasion conspiracy, NewsChannel 9 reports. Douglas Dyer, 58, will serve 5 years in prison and James Brennan, 68, will serve 4 years. The two men must also pay $4.9 million in restitution to the over 200 victims in this case. Brennan was also ordered to pay over $184,000 in restitution to the IRS, and Dyer was ordered to pay the IRS more than $354,000. The pair admitted to conspiring to steal $4.9 million from investors and mischaracterizing the stolen money as capital gains instead of income.