Dyer Duo Jailed for 6+ Years, $2.3M Restitution for Oil Co. Heist

Oklahoma City — A high-stakes scheme to swindle Continental Resources (CLR) out of millions has landed two Oklahoma cousins, Blaine Dyer (42, Oklahoma City) and James Dyer (39, Edmond), behind bars for a combined six years and $2.3 million in restitution.

On December 19, 2022, a federal grand jury returned an eleven-count Superseding Indictment against Blaine and Jimmy, charging them with one count of conspiracy to commit honest services wire fraud and six counts of honest services wire fraud, along with three counts of making a false statement on a promissory note.

The indictment alleged that Blaine, an attorney specializing in oil and gas title opinions, and his cousin Jimmy, a landman, conspired to commit wire fraud against CLR, an oil and gas exploration company based in Oklahoma City. In November 2013, Blaine and Jimmy received CLR’s confidential drilling and leasing plans from an employee of the company.

Public records show that with knowledge gleaned from the illegally obtained CLR plans, Jimmy sought out and negotiated with landowners across Oklahoma, purchasing leases that CLR intended to acquire. To avoid detection, Blaine, Jimmy, and others formed several shell companies to facilitate these transactions.

In 2014, Blaine, Jimmy, and others sold some of the leases purchased using CLR’s information back to CLR. As part of the agreement, CLR continued to make royalty payments on the leases to the defendants and others through the conspirators’ shell companies.

On February 17, 2023, Blaine pleaded guilty to a one-count Superseding Information, charging him with conspiracy to commit honest services wire fraud. Jimmy pleaded guilty to conspiracy to commit honest services wire fraud on February 16, 2023.

At the sentencing hearings on May 30, 2024, U.S. District Judge Jodi W. Dishman sentenced Blaine to serve 60 months in prison, followed by two years of supervised release, and Jimmy to serve 18 months in federal prison, followed by one year of supervised release. The court also ordered the defendants to pay $2,316,185.43 in restitution to CLR and forfeit $1,661,263.42 and $230,761.74 to the United States.

“The defendants’ greed resulted in an elaborate scheme to exploit insider information and defraud Continental simply to enrich themselves,” said U.S. Attorney Robert J. Troester. “The significant sentences imposed by the Court should serve as a strong deterrent to those who seek personal gain and profit by defrauding Oklahoma businesses.”