Brian Ray Dinning, 47, of Toronto, Canada, has been indicted by a federal grand jury on wire fraud charges.
Neil H. MacBride, United States Attorney for the Eastern District of
Virginia, made the announcement after the indictment was returned by the grand
jury. Dinning has been charged with 25 counts of wire fraud, which each carry a
maximum penalty of 20 years in prison, if convicted.
According to the indictment, Dinning was a graduate of Regent University Law
School and also obtained an LL.M in tax from the Georgetown University Law
Center. From early 2005 until the present, Dinning allegedly recruited
approximately 23 individuals to invest in his numerous “for-profit” corporations
that he had established. He did this by falsely advising investors that they
would accrue significant financial gains from South African projects, such as a
luxury Oceanside housing development, a luxury Oceanside hotel and private
residence club, as well as diamond and gold mining operations. The indictment
alleges that Dinning also used “not-for-profit” corporations to obtain donations
purportedly for charitable, environmental, agricultural, medical, and community
projects for the tribal people of South Africa, as well as developing wildlife
habitats for native African species.
Regardless of whether his investors made investments for profit or donations
for charitable causes to Dinning’s various corporations, upon receipt of these
funds from his investors, Dinning is alleged to have immediately used their
money for personal and family gain, for payment of his and his family’s
expenses, for payment of alimony and child support to his ex-wife, for payment
of private school tuition for his children, and to make the down payment and
subsequent mortgage payments on his new $975,000 home in Suffolk. As a result,
Dinning allegedly obtained more than $2.9 million from his investors, of which
he retained more than $2 million for his and his family’s benefit.
This case was investigated by the Norfolk Division of the FBI. Assistant
United States Attorney Steve Haynie is prosecuting the case on behalf of the
Criminal indictments are only charges and not evidence of guilt. A defendant
is presumed to be innocent until and unless proven guilty.
A copy of this press release may be found on the website of the United States
Attorney’s Office for the Eastern District of Virginia at
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