The following statements were taken from Toms site...
The preeminent theory on how the money was buried on Tena Bar centers around the dredging operation in 1974. Detailed analysis through multiple aspects of this investigation was able to discount the dredging operation as the transport mechanism for the bundles. This then calls into question other theories outlined elsewhere in this research that depend on the dredging scenario. This research did not, however, uncover a better explanation for how the money ended up on Tena Bar.
The dredge used in the 1974 operation was described in the FBI transcripts as having "a 24 inch pipe with wiper bar inside the pipe". Further discussion in the transcript describes "an auger" and speculates that a 16x16x4 inch package would be torn apart when transported through the pipe. This is a reasonable view given the power and violent action of dredging.
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Now, according to a recent video (taken down) the cameraman goes right to an agent who finds a piece deep in the sand, and they also verify this a couple times in the video. Up to 2 feet in depth. Tuff on a plant theory.
They seem to speculate the violence of the dredge, and the bag being torn apart, the wiper bar is a single bar to help block large rocks from entering the pipe. I emailed several pump/dredge companies. They gave a different view. One stated the money could of got past the pump if it was secured tight. It was originally in a bag, and a witness claimed to see him wrapping it with the chute chord.
We also have conflicts with the dredge layer itself. Tom Kaye is one of them. I'm skeptical as well..
Then we have years worth of valuable time between the dredge, and the time the money was found, plus, during the dredge operation the slurry could of washed a lot of evidence away, along with time.
When you put all of this together, it doesn't sound like they can rule the dredge out. I can't, but I can't prove the dredge is the accomplice either, but since it's inconclusive, I don't think it's ready for a plant theory to take it's place. Without the dredge, Tom can only speculate with human intervention no better explanation could be found.