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Dyer Straits: Infamous Oil and Gas Attorney Gets 5 Years for Dumb Fraud

The saga of Blaine Dyer – the brash, arrogant, and very unethical oil and gas attorney turned felon – finally appears to be over.

Well, until he does something stupid while hanging out in federal prison that we get to write about.

Last Thursday, right before his political hero was found guilty on 34 felony charges in New York, Blaine was sentenced to five years of hard time in a federal prison – plus three years of supervised release after – by Judge Jodi Dishman for being the “mastermind” behind a scheme to defraud his client Continental Resources out of millions of dollars.

Here are some details via The Oklahoman:

The central figure in a criminal scheme to get rich off Continental Resources' drilling plans in southwest Oklahoma will spend five years behind bars…

Blaine Dyer, 42, also was ordered by U.S. District Court Judge Jodi Dishman on Thursday to forfeit $1,661,263.42 of proceeds the government asserts he obtained by creating a shell company to use confidential Continental Resources drilling and leasing plans to buy or lease mineral rights cheap, then resell or lease those rights to the larger company for a profit.

Dyer must serve three years of supervised release after being released from prison and is jointly responsible (along with his cousin, James "Jimmy" Dyer) to provide $2,316,185.43 in restitution to Continental Resources.

Yikes. Five years in prison is a lot of time away from home, especially when you lived the good life with a pretty wife in a fancy million-dollar McMansion.

Fortunately for Blaine, he doesn't have to worry about his wife cheating on him while he’s in jail, because she’ll be smacking balls around the golf course instead.

Blaine and his attorney tried their best to talk the judge – a Trump appointee – into a light sentence, but the fact that he openly mocked the case on social media and was caught with all those guns back in 2023 ruined any chances he had of that happening.

In his remarks to the judge, Blaine Dyer asked for forgiveness, saying he knew now he had made mistakes and that it was appropriate he be punished for his actions.

"Over the past four years since the charges have been filed, I have learned tough lessons," Blaine Dyer said. "It will never happen again."

Dishman showed little sympathy.

"You are an attorney. Continental Resources was your client. You knew better. This was a crime of greed and self-enrichment, pure and simple," she told him.

The judge is right, but in all fairness to Dyer and shady attorneys who shouldn’t be practicing law everywhere, this is one of the oldest schemes in the oil and gas playbook and has been pulled off by more competent people in the past.

I guess the big mistake Dyer and his clueless cast of cohorts made is to…

A) Run the scheme on a wealthy, politically connected, and very ruthless Oil Overlord in Harold Hamm, and…

B) Clearly write out the scheme in email for everyone to laugh at...

Instead of writing “THERE'S NO WAY WE FAIL, OR DON'T GET RICH AS FUCK” he should have added, “OR END UP IN FEDERAL PRISON."

Although his sentence closes the case on the Dyer docket, Continental’s retribution tour isn’t quite done quite yet.

They still have cases open and pending with our old pal Robert “Spaulding” Hefner IVth.

As of this week, only a handful of defendants — Robert Hefner V, Hefner Energy, Albert Aguilar, Adam Aguilar, Deltacore Energy, and Ember Energy — were still involved in that case.

On May 14, Continental Resources and legal counsel representing Hefner and his company agreed to strike a scheduled pretrial conference set for this month while they wait for an interlocutory appeal made by Hefner in the case to be decided.

A case Continental Resources brought against Hefner separately in 2022 also is on hold because of the appeal.

As Spaulding tries to get out of this, we’ll be sure to follow it. It would be a shame if it ended his career as a newspaper editorial writer.

Stay with The Lost Ogle. We’ll keep you advised.

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