Dinar Fraud Trial Begins

By John Lee.

Ohio based publication The Toledo Blade has reported the beginning of a new trial of three local men accused of intentionally deceiving investors with the now familiar refrain that the Iraqi dinar will dramatically revalue.

The accused ran a firm BH Group along with two hedge funds, with one defendant allegedly lying about fighting in Iraq. The scale of the fraud is reported to be $23 million.

According to the report, the men are accused of promoting the currency,

“as a potentially profitable investment on the theory that at some unknown point in time a “revaluation” would occur. If the Iraqi government would increase the value of its currency from a tenth of a penny to, say, $2, a $25 investment could turn into $50,000.”

All of the defendants have been charged with conspiracy to commit wire fraud and wire fraud as well as various other related financial crimes. Read the full story here.

(Source: The Toledo Blade)

6 Responses to Dinar Fraud Trial Begins

  1. Lather May 10, 2014 at 2:14 am #

    How can this be when turki said they would lift the zeros in the middle of the year? This can’t be what these men are being charged with! All the dinar sites are still trying to pump dinars

  2. Lather May 10, 2014 at 2:15 am #

    And nobody’s noting anything about it

  3. Lather May 10, 2014 at 11:14 pm #

    I too am invested in the dinar not only because of the articles that come out in the media stating the dropping of the zeros and how the CBI’s putting out statements that they will put their currency to what it used to be as far as I’m concerned now it seems that the CBI and possibly even the Iraqi government is scamming the average US citizen I can’t believe it

  4. omar May 11, 2014 at 3:10 pm #

    Lather blame your self and people whom put you in this mess.

  5. Ali May 12, 2014 at 10:43 am #

    Dear Editor,

    The people who fake Iraqi Currencies are Iranian and other middlestern governments. Today everything fake in Iraq. The worse of all is the Iraqi Passport. Be careful, avoid Iraqi Passport because it fake one.

  6. omar May 12, 2014 at 6:33 pm #

    Dinar never was investment! Only very risky speculation. Speculation promoted by very dishonest individuals.