In a lawsuit against his 78-year-old father, two siblings and an adult son, Todd Dyer, the “Bring it on” felon who is doing 15 years for stealing $3 million, lays out a plan that would provide him with a six- or seven-figure nest egg when he is released.
In the lawsuit, Dyer, who is being held in a low-security federal prison in Ohio, charged his father, James A. Dyer, with breach of contract and conversion of funds. Todd Dyer claimed in the suit that he gave his father cash to be put in “various trusts set up for Plaintiff Dyer and Plaintiff Dyer’s children’s care and maintenance.” His father kept the money, Todd Dyer charged.
“It is well documented that Todd is a prolific liar,” his father, James A. Dyer, said in an interview Friday. James Dyer said his son never gave him money. Rather, he said, he and his late wife loaned Todd Dyer, 56, hundreds of thousands of dollars but were not paid back.
Todd Dyer’s lawsuit appears to be banking on winning a separate lawsuit filed against the Bakleys, a northern Illinois family that he scammed out of $900,000, according to court records and the lawsuit filed by Dyer.
Todd Dyer claims in the suit that he and his father agreed that any settlement received as a result of the Bakley suit would be placed in trusts benefiting Todd Dyer.
A temporary restraining order issued in federal court in October bans Todd Dyer from “participating in or continuing” any lawsuits involving witnesses and victims of his fraud schemes, including the Bakleys.
Members of the Bakley family declined to comment.
Todd Dyer claims in the suit against James Dyer that shortly after his conviction, he verbally authorized his father to place more than $1 million in trust to be used to help support Todd Dyer’s four children, ages 3 to 25. The suit does not make clear where that money was to come from.
In addition, James Dyer was to send his son $100 a week while he was incarcerated, the suit claims. He is scheduled to be released in 2030, according to the U.S. Bureau of Prisons.
Todd Dyer claims in the suit that he and his father agreed that any remaining funds would be paid to Todd Dyer when he is released from prison, the suit states. The most serious allegations in the lawsuit are aimed at his father, but Todd Dyer also charges his other relatives with illegally taking his property and other wrongdoing.
James Dyer, a well-known Lake Geneva insurance agent, said Friday there was no such agreement and that he and his now-deceased wife, Marilyn, were victims of their son’s harassment.
Even though he and his wife were supporting Todd Dyer’s family “he still threatened us and actually filed a frivolous lawsuit against us as his mom lay dying,” James Dyer said.
Todd Dyer sued his father and other family members in July. His mother died of ALS the following month.
James Dyer said he did send his son $100 a week when he was sent to prison in 2017. He said he thought that money was to be used to fund an appeal.
“Over the years we have been among his biggest victims both financially and emotionally,” James Dyer said. One or both of Todd Dyer’s parents attended several of Todd Dyer’s court hearings.
Todd Dyer, who was convicted of fraud in 1999, 2004 and 2017, is known for his cocky, braggadocio. In 1999 he was sentenced to 70 months in federal prison for running a $2.25 million Ponzi scheme. He was convicted of securities fraud in Illinois in 2004.
In a 2013 interview with the Journal Sentinel, he challenged then-federal prosecutor Joseph Wall to “Bring it on!” Wall did just that, and Dyer was indicted 2015 and again the following year. Wall, who is now a Milwaukee County Circuit judge, also prosecuted Dyer in the Ponzi scheme case.
In his most recent cases, Dyer was sentenced to 10 years for scamming the Bakley family by persuading them to hire him after he falsely told them his father had stolen the family’s life insurance policy.
That sentence is being served concurrently with a 15-year federal sentence for defrauding about two dozen investors out of nearly $2 million. The money was to be used by Dyer companies to buy farmland. However, the companies never bought a single acre of land.
Dyer, representing himself, initially fought the charges in the farmland case during a brief jury trial. He pleaded guilty on the third day of the trial.
Before Dyer pleaded guilty, Wall told the jury the money collected from investors was used as a “piggy bank for Todd Dyer” and that $33,762 was spent at the Vegas Gentleman’s Club in Walworth County and $169,000 was taken by Dyer “in cash – you can’t trace it.”
The suit against his father is in addition to lawsuits and threats of lawsuits Todd Dyer has brought against victims and witnesses of his crimes since he was sent to prison in March 2017.
In September, the U.S. Attorney’s Office sued Dyer, charging he has been “harassing victims (of his crimes) by threatening civil lawsuits against them, then initiating lawsuits when those victims refused to pay Dyer’s so-called settlement demands of hundreds of thousands of dollars.”
U.S. District Court Judge Pamela Pepper called Dyer’s actions “the very definition of harassment” and issued a temporary restraining order banning him from contacting or harassing victims or witnesses of his crimes.
Robert Penegor, his attorney in the restraining order case, did not return calls for comment. Dyer is representing himself in the suit against his father that was filed in Walworth County Circuit Court.
Though Dyer claims in the suit he gave his father cash to put in trust accounts, he still owes more than $5 million restitution to victims of his fraud and Ponzi schemes.
“If he’s got the money, I want the money,” said Trent Griffith, a farmer who lost $153,000 to Dyer’s farmland scheme. Victims of Dyer’s frauds “should receive full restitution. That’s our money, he stole our money. Period – end of story.”