Jailed Clenet Auto Promoter Denies Charges of Violating His Probation

The head of an investor group that had promised to revive the Clenet luxury automobile has denied state charges of violating his probation.

Don Dyer of Newport Beach, who remains in jail with no bail, appeared Thursday in Orange County Superior Court. According to county prosecutors, Dyer is suspected of bilking 380 investors of more than $1.8 million in several schemes, including Clenet. About 10 of those investors attended this week’s court session.

Earlier this year, Minter Mark--a small group of investors headed by Dyer--announced that it planned to revive production of the Clenet, a handmade specialty sports car. Minter Mark did not revive the car.

Dyer was arrested last month after a five-month investigation by the Orange County district attorney’s major fraud unit. At the time, he was still on three years’ probation for a felony conviction related to a home-equity sharing program.

Superior Court Judge Francisco P. Briseno set Oct. 10 as the date for Dyer’s trial on charges of violating his probation.

Deputy Dist. Atty. William L. Overtoom said Thursday that prosecutors still are investigating complaints from the 380 investors. “Hopefully by the trial date we will have filed charges relating to . . . unlawful sale of securities, fraud, unlawful offering of a seller-assisted marketing plan and grand theft,” among other things,” the prosecutor said.