By John Lee.
An American man has pleaded guilty to operating an illegal business selling Iraqi dinar.
ArgusLeader reports that 60-year-old David Olmsted, also known as Dale Cooper Jr., received daily Federal Express packages with shrink-wrapped piles of dinar bills that had been smuggled out of Iraq and into Jordan.
The man, from South Dakota, was charged in federal court with operating an unlicensed money transmitting business, failure to report on exporting and importing monetary instruments, and unlawful structure of transactions to evade reporting requirements.
He remains free on bond until a sentencing hearing in September. He faces a maximum sentence of five years in prison and a $250,000 fine.