Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests can post but they do have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.

Disclamer:

We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."




Join Us for Dinar Discussions and More -- We Keep it REAL
 
HomeSearchMemberlistFAQLog inRegister
Help Us Drain the SWAMP in DINARLAND

REPORT TONY RENFROW for violating his Court Order to stay away from Dinar -

Judge's email: ksd_murguia_chambers@ksd.uscourts.gov
PHONE - 913-735-2340

DA's email: Scott.Rask@usdoj.gov
PHONE - 913-551-6730
DINAR INFORMATION LINKS

PARTNER SITES
Key Words
Adam Montana, AdminBill, Benjamin Fulford, Currency Exchange, David Schmidt, Dinar, Dinar Guru, Dinar Recaps, Dinar Rv, Dinar Scam, Dr Clarke, Frank26, Gary Larrabee, Gurus, Guru Hunters, JerzyBabkowski, Kaperoni, Kenny, Monetary Reform, Mnt Goat, My Ladies, Okie, Poppy, RamblerNash, Ray Renfrow, Redenomination, Revaluation, Ssmith, TNTBS, Tnt Tony, WING IT, We Are The People, Willis Clark, WSOMN, Yosef, Zap
Post new topic   Reply to topic
Share | 
 

 DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM

Go down 
AuthorMessage
kenlej
GURU HUNTER
GURU HUNTER
avatar

Posts : 1208
Join date : 2013-12-23

PostSubject: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Wed Mar 16, 2016 9:14 am

Sterling Currency Group’s leaders lived the high-life: mansions in Buckhead and Brookhaven, luxury cars, property along the Florida panhandle. One even flies a private stunt plane, records state.


They trumpeted their good works, too. Tyson Rhame, an Air Force Academy graduate who lives in Brookhaven, ran a family foundation that got notice for its donations to DeKalb County schools. News accounts said his partners in Sterling, Buckhead’s James and Carol Laurette Shaw, donated 100 acres for Savannah College of Art and Design’s equestrian center. The pavilion is named in their honor.

But the business that helped bankroll their lifestyle and largess — dealing in Iraqi currency — is a scam, according to a federal complaint seeking to seize homes, cars and aircraft. And, court documents say, the philanthropists fretted about getting caught.

“We are risking serious jail time as promoters of a Ponzi scheme…” James Shaw wrote Rhame in a 2010 email, according to the complaint filed in U.S. District Court in Atlanta. In the same email, Shaw said his wife had been “very nervous” and “crying” because “she knows we are running an illegal operation.”


Does this mean that they knew that what they were doing was illegal? I would think so!! 


Sterling, also known as Dinar Banker, operated in the obscure and lightly-regulated world of foreign currency trading, where investors take bets on whether the value of a country’s money will rise or fall. On its website, Sterling bills itself as “Your #1 Source for Buying & Selling Iraqi Dinar.”


“We believe in serving our customers with Integrity & Transparency,” it says.

The federal complaint says that Sterling used a well-known scheme. After the Iraq War began in 2003, various promoters began circulating online rumors that the U.S. Department of the Treasury planned to give the country’s currency a massive boost. When the currency was revalued, holders of dinar would get rich cashing out, the scheme goes.

Sterling was wildly successful selling hard currency, according to investigators. Since 2004, the company claimed $600 million in gross sales, the complaint says. In 2011 alone, their gross receipts totaled more than $245 million, according to the court filing

Bundles of dinars would arrive at Atlanta’s Hartsfield-Jackson International Airport from the Middle East, then were hauled in trucks to an area office. Employees sold them them via phone and online across the U.S. and Canada.

Investors could snap them up on layaway, or cash on delivery.

Dinar promoters ran chat rooms and hosted conference calls to make sure buyers were eager. One pitchmen, identified only as “TerryK” in the complaint, was secretly on Sterling’s payroll to the tune of $150,000, the complaint states.

Dinar trading was poised to go mainstream, the company suggested on its website in 2010, according to the federal complaint. Clients would be able to exchange their Iraqi currency at kiosks and “remote satellite offices” at major airports, including Atlanta, Chicago-O’Hare and New York-JFK.

And Sterling assured investors it would be a trusted supplier in an industry rife with scams. On its website, it states it is registered as a Money Service Business with the Treasury Department, has an A rating with the Better Business Bureau and “supplies a Certificate of Authenticity with every currency order that guarantees in writing that all of our currency is authentic. Our currency is legally obtained, legally transported, legally declared, and from non-criminal origin.”

“We are proud of our ‘Sterling’ reputation and the trust our customers put in us!” the website said.

The predicted currency reset never happened. Currently, it takes 1,200 dinar to equal the value of $1. These promotions have become such a concern to the FBI that it set up a webpage to field tips from possible victims.

On the day of the FBI raid, “TerryK” told investigators he made up claims that he had sources who knew the dinar was about to rise, court documents say. A Sterling executive told the FBI that such rumors were a “mythology.”

The government alleges that Sterling laundered revenues through a complex network of companies and accounts. The complaint names numerous companies and trusts said to be linked.

Alex Rue, a securities attorney and former lawyer with the Securities and Exchange Commission, said investors should be wary of claims of opportunities that are too good to be true.

“There is always an element of, ‘Why am I so lucky?’” Rue said.

This was written when they were raided June 10,2015.

They were criminally indicted Feb 23 2016. 

A federal grand jury has indicted three executive officers of an Atlanta currency exchange firm that at one time was one of the nation's largest sellers and exchangers of Iraqi currency, the U.S. attorney in Atlanta announced Monday.

Tyson Rhame, 51, and James Shaw, 53—co-owners of the Sterling Currency Group—and company COO Frank Bell, 54, were indicted on multiple charges of conspiracy, mail fraud and wire fraud. Rhame and Shaw were also charged with multiple counts of money-laundering.

The indictment also charges Terrence Keller, a 55-year-old Internet promoter, with multiple counts of fraud. Federal prosecutors say Sterling paid Keller to illegally "pump" sales of the Iraqi dinar.

A Kentucky resident also known as TerryK, Keller ran an Internet website and chat room known as "The GET Team" that he used—along with weekly conference calls with potential investors—to promote investments in the Iraqi currency, often with a Sterling representative joining, prosecutors said.

Federal authorities have already seized and are seeking the forfeiture of the defendants' assets, including: millions of dollars held in dozens of financial accounts; millions in foreign currencies; three private airplanes; two Mercedes and an Audi Quatro; real estate in Brookhaven, Atlanta, Panama City Beach, Florida, and Charlotte, North Carolina; and 48 trusts, capital investment groups and limited liability companies in which the defendants had invested.

Sterling Currency Group, a limited liability company, also did business as Sterling Online Processing Services LLC, and Dinar Banker Sterling sold and exchanged so-called "exotic currencies," including most predominantly the Iraqi dinar.

Sterling Currency said in a news release that since federal authorities obtained search warrants and filed a civil forfeiture complaint as part of the investigation of Sterling Currency and what it labeled "the Iraqi dinar industry," Sterling has provided evidence to the U.S. attorney that it believes "demonstrated … that the central fact allegations in the civil forfeiture complaint were inaccurate, and in some instances flatly false." But, the release said, the U.S. attorney secured a criminal indictment anyway.

"From Sterling's perspective, these charges are without any merit. Sterling, a lawful business which sold a lawful product, was owned and operated by law-abiding and conscientious individuals, two of whom served extensively in the United States Armed Forces," the release said. "These executives worked hard to ensure Sterling complied with all state and federal laws and regulations. This included investing enormous resources into its compliance program and maintaining extensive legal and other professional counsel to ensure it was fully compliant with all applicable laws. Sterling and the named individuals strongly deny the U.S. attorney's charges and look forward to vigorously defending themselves throughout this process and at trial."

Mike Brown of Alston & Bird, Rhame's criminal defense attorney, told the Daily Report on Tuesday, "We look forward to defending Mr. Rhame and are confident that when the facts come out there will be a conclusion that he committed no crime.

According to the indictment, a key component of what federal authorities say was the illegal pumping scheme was Keller, who made "materially false" statements to followers of his website that he had information verified by "high-level confidential sources" in the U.S. government, the Iraqi government, major financial institutions and other international organizations. He also told followers that he had no financial motive to promote investments in the dinar but was rather an altruist who shared his knowledge so that others might benefit.

Prosecutors said Keller fueled financial speculation by predicting an imminent "revaluation" of the dinar that would lead to a quick, exponential rise in value over U.S. dollars and other stable foreign currencies. Holders of dinars would realize potentially enormous gains if a revaluation occurred. And the participation of Sterling's executives on Keller's conference calls and chat forums provided validation to Keller's followers that his claims about a revaluation of the dinar were credible, according to the indictment. Keller and his GET Team, prosecutors said, was one of the leading Internet-based proponents of speculation on a dinar revaluation.

Sterling executives didn't make direct representations about the likelihood of a revaluation or offer investment advice to Keller's followers, but the indictment said that Sterling executives "assured listeners" on Keller's conference calls that Sterling was prepared and able to handle the high volume of dinar exchanges that would likely occur once the Iraqi currency was revaluated.

Prosecutors said Keller had a secret financial arrangement with Rhame, Shaw, and Bell and was paid more than $160,000 to fuel speculation in currency sales, particularly the dinar. Keller's promotional activities generated millions of dollars in sales for Sterling Currency, which sold the dinar and other "exotic currencies" as Sterling Online Processing Services and Dinar Banker, prosecutors said.

The indictment also contends that Rhame, Shaw and Bell never believed that Keller had the high-level sources he claimed to have and warned their own employees not to speculate. But, the indictment said, Sterling executives also knew that Keller's alleged pumping activities were essential to their company's financial success and would continue to boost their sales. The dinar has not yet been revalued.

Rhame is alleged to have told colleagues that Keller and his GET Team had generated as much as 80 percent of Sterling's business and was Sterling's single largest referrer, prosecutors added. From 2010 to 2015, prosecutors said that Sterling grossed over $600 million in revenue in currency sales and generated over $180 million in distributions for the company co-owners.

"Investors in the Iraqi dinar, like all investors, are entitled to make an informed choice based on honest and transparent information," U.S. Attorney John Horn in announcing the indictment. "These defendants are alleged to have defrauded investors by spreading misinformation about the investment potential of the Iraqi dinar in order to profit from sale of the currency.

People ask how can they get indicted when any day there will be a Revaluation of the Iraqi Dinar? Well they can't so that proves that the RV is simply a never ending Nigerian scam .


Last edited by kenlej on Wed Mar 16, 2016 10:21 am; edited 1 time in total
Back to top Go down
View user profile
Chaz
VIP Member
VIP Member
avatar

Posts : 2193
Join date : 2015-12-27

PostSubject: Re: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Wed Mar 16, 2016 9:48 am

Well,here's more prove,every guru since the beginning has called the RV,look at Bruce last night, he been saying RV is happen for 6 years now ,look at poppy,same thing,look at all of them,now we have a sly fox called Dr.Clark,that just came on the scene,to me as a X con artist yes the RV is a scam.
These are the things I would say over the internet if I was still conning people,& the best thing about the internet is I don't have to look at them in there eyes when I lie to them.
Sincerely blessings Charles
Back to top Go down
View user profile
Ponee
Admin
Admin
avatar

Posts : 34762
Join date : 2011-08-09

PostSubject: Re: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Wed Mar 16, 2016 10:00 am

EXCELLENT POST!  THANK YOU !

*****************
Back to top Go down
View user profile
mightyoak
Forum Fanatic
Forum Fanatic


Posts : 188
Join date : 2015-10-16

PostSubject: Re: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Wed Mar 16, 2016 11:53 am

The feds should go after all the pumping gurus.  Shut them down.
Back to top Go down
View user profile
aksafeone
Super Moderator
Super Moderator
avatar

Posts : 4069
Join date : 2011-07-06
Age : 72
Location : Arctic

PostSubject: Re: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Thu Mar 17, 2016 1:09 am

First off the indictment is for "speculating enhancement."  Meaning that the Sterling Group provided the dinar sales platform and paid various personages (TerryK etal) to pump the so called imminent RV - this to sell more dinar.  I know, just a quick summary here.  Basically they included the layaway.reserve business (which IMO is the real scam here) as well.

I think that this is just the tip of the ice berg.  Why7 wasn't Ali nailed?  How about the other guys like Dinar Daddy?  Personally I feel that anyone who sold reserves/layaways and then set a 30 day limit and then allowed the gurus to pump it with "RV imminent," "RV has happened." etc. announcements on websites needs to be indicted and the people who were bilked reimbursed in kind plus interest.

Is the Dinar a scam?  Well, the money we were sent is supposed to be real.  So far nothing has come out that it isn't.  Therefore, until such time as information comes out from Washington City to the contrary - the Iraqi dinar we hold is real.  NOW what is it worth?  Right now nothing much.'

As to where it could be exchanged.  When and if it becomes an internationally recognized curency one would not need to go to airport/exchange centers etc.  ALL recognized foreign currency is exchanged daily at local banks.  This is where one should be able to exchange their dinar when and if it ever does become internationally recognized and tradeable.  There would be no difference between Iraqi Dinar and Canadian Dollars as far as where to exchange them would be.
Back to top Go down
View user profile
Sam I Am
GURU HUNTER
GURU HUNTER
avatar

Posts : 1368
Join date : 2016-01-21

PostSubject: Re: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Thu Mar 17, 2016 7:49 am

All you really need to show to prove that the big RV is a scam is that the dinar is a pegged currency backed by Iraq's foreign currency reserves.  The rest is just basic math.  FCR = approx. $57 billion.  M1 Money Supply= approx. 65 trillion dinar.  57bil / 65tril = less than 1/10 of a penny.  Game Over.

*****************
Busting Gurus Since 2011

Back to top Go down
View user profile http://www.jewandgreek.com
wpsmit
VIP Member
VIP Member
avatar

Posts : 1070
Join date : 2013-08-20
Location : GA

PostSubject: Re: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Thu Mar 17, 2016 9:02 am

Surprise Surprise Surprise!

*****************
EVEN CRAZIES LOVE INDEPENDENCE DAY
Back to top Go down
View user profile
Chaz
VIP Member
VIP Member
avatar

Posts : 2193
Join date : 2015-12-27

PostSubject: Re: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Thu Mar 17, 2016 9:09 am

The dinar is real currency,its the people who say the RV is always tomorrow or tonight are the scammers for pumping the dinar,I bet they don't own one dinar.why would they,there rich off our wallets.
Sincerely blessings Charles
Back to top Go down
View user profile
Chaz
VIP Member
VIP Member
avatar

Posts : 2193
Join date : 2015-12-27

PostSubject: Re: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Thu Mar 17, 2016 9:20 am

Look what happened to the BH Group they all went to jail for the same thing that Sterling has been indicted for,one from the BH Group has dyed in prison,sad, i pray that he found something better before he left this world.
Sincerely blessings Charles
Back to top Go down
View user profile
Chaz
VIP Member
VIP Member
avatar

Posts : 2193
Join date : 2015-12-27

PostSubject: Re: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Thu Mar 17, 2016 9:38 am

If this was a honest investment,why would the main stream ,investment companies,forex investors,banks,be involved,not one says it a good investment, and even the banks when you mention the dinar,they say they will never deal with the dinar,Iraq is to unstable. It a scam, but yet Wells Fargo is suppose to be cashing everyone out according to the gurus,now who are you going to believe?
Sincerely blessings Charles
Back to top Go down
View user profile
Ssmith
GURU HUNTER
GURU HUNTER
avatar

Posts : 18155
Join date : 2012-04-10

PostSubject: Re: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Thu Mar 17, 2016 10:06 am

@Chaz wrote:
If this was a honest investment,why would the main stream ,investment companies,forex investors,banks,be involved,not one says it a good investment, and even the banks when you mention the dinar,they say they will never deal with the dinar,Iraq is to unstable. It a scam, but yet Wells Fargo is suppose to be cashing everyone out according to the gurus,now who are you going to believe?
  Sincerely blessings Charles

Furthermore, look at the people who are saying that the currency of Iraq is going to have a massive revaluation.

Who are these people?  A conglomeration of felons, wanna be preachers, new age nut jobs who claim to have an inside track to various government 'three letter' agencies.  Really?  Now does this make sense to anyone?
Back to top Go down
View user profile
Chaz
VIP Member
VIP Member
avatar

Posts : 2193
Join date : 2015-12-27

PostSubject: Re: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Thu Mar 17, 2016 10:14 am

Furthermore if I am going to hand over my hard earned money for a investment,I am going to meant them eye to eye this time. Not over the internet! Where there is ever unscrupulous individuals there are in the world scamming people.
Sincerely blessings Charles
Back to top Go down
View user profile
aksafeone
Super Moderator
Super Moderator
avatar

Posts : 4069
Join date : 2011-07-06
Age : 72
Location : Arctic

PostSubject: Re: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Thu Mar 17, 2016 12:03 pm

Chaz even eye to eye sometimes one meets a scammer.  The old phone card dealers, some Rexall pumpers (although you had to buy the products - selling them was something else), and a multitude of other schemes.  The thing to look at is where are they today, where will they be tomorrow and what is the risk that things will go south.  It is hard sometimes to realize the latter.  I tend to not trust anyone, even at a garage sale, until the product is proven sound.   Yes, I fell for the dinar but the currency is real.  Just howmuch it is worth ant any time in the future?  Who knows and he is on first!
Back to top Go down
View user profile
Chaz
VIP Member
VIP Member
avatar

Posts : 2193
Join date : 2015-12-27

PostSubject: Re: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Thu Mar 17, 2016 12:09 pm

True,but eye to eye at least I can ask questions,with these gurus you can't even talk to them without getting banded. Unless you glorify them first,& agree with them on everything. There always right & we are wrong.
Sincerely blessings Charles
Back to top Go down
View user profile
RamblerNash
GURU HUNTER
GURU HUNTER
avatar

Posts : 14067
Join date : 2015-02-19

PostSubject: Re: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Thu Oct 11, 2018 11:45 pm

@kenlej wrote:
Sterling Currency Group’s leaders lived the high-life: mansions in Buckhead and Brookhaven, luxury cars, property along the Florida panhandle. One even flies a private stunt plane, records state.


They trumpeted their good works, too. Tyson Rhame, an Air Force Academy graduate who lives in Brookhaven, ran a family foundation that got notice for its donations to DeKalb County schools. News accounts said his partners in Sterling, Buckhead’s James and Carol Laurette Shaw, donated 100 acres for Savannah College of Art and Design’s equestrian center. The pavilion is named in their honor.

But the business that helped bankroll their lifestyle and largess — dealing in Iraqi currency — is a scam, according to a federal complaint seeking to seize homes, cars and aircraft. And, court documents say, the philanthropists fretted about getting caught.

“We are risking serious jail time as promoters of a Ponzi scheme…” James Shaw wrote Rhame in a 2010 email, according to the complaint filed in U.S. District Court in Atlanta. In the same email, Shaw said his wife had been “very nervous” and “crying” because “she knows we are running an illegal operation.”


Does this mean that they knew that what they were doing was illegal? I would think so!! 


Sterling, also known as Dinar Banker, operated in the obscure and lightly-regulated world of foreign currency trading, where investors take bets on whether the value of a country’s money will rise or fall. On its website, Sterling bills itself as “Your #1 Source for Buying & Selling Iraqi Dinar.”


“We believe in serving our customers with Integrity & Transparency,” it says.

The federal complaint says that Sterling used a well-known scheme. After the Iraq War began in 2003, various promoters began circulating online rumors that the U.S. Department of the Treasury planned to give the country’s currency a massive boost. When the currency was revalued, holders of dinar would get rich cashing out, the scheme goes.

Sterling was wildly successful selling hard currency, according to investigators. Since 2004, the company claimed $600 million in gross sales, the complaint says. In 2011 alone, their gross receipts totaled more than $245 million, according to the court filing

Bundles of dinars would arrive at Atlanta’s Hartsfield-Jackson International Airport from the Middle East, then were hauled in trucks to an area office. Employees sold them them via phone and online across the U.S. and Canada.

Investors could snap them up on layaway, or cash on delivery.

Dinar promoters ran chat rooms and hosted conference calls to make sure buyers were eager. One pitchmen, identified only as “TerryK” in the complaint, was secretly on Sterling’s payroll to the tune of $150,000, the complaint states.

Dinar trading was poised to go mainstream, the company suggested on its website in 2010, according to the federal complaint. Clients would be able to exchange their Iraqi currency at kiosks and “remote satellite offices” at major airports, including Atlanta, Chicago-O’Hare and New York-JFK.

And Sterling assured investors it would be a trusted supplier in an industry rife with scams. On its website, it states it is registered as a Money Service Business with the Treasury Department, has an A rating with the Better Business Bureau and “supplies a Certificate of Authenticity with every currency order that guarantees in writing that all of our currency is authentic. Our currency is legally obtained, legally transported, legally declared, and from non-criminal origin.”

“We are proud of our ‘Sterling’ reputation and the trust our customers put in us!” the website said.

The predicted currency reset never happened. Currently, it takes 1,200 dinar to equal the value of $1. These promotions have become such a concern to the FBI that it set up a webpage to field tips from possible victims.

On the day of the FBI raid, “TerryK” told investigators he made up claims that he had sources who knew the dinar was about to rise, court documents say. A Sterling executive told the FBI that such rumors were a “mythology.”

The government alleges that Sterling laundered revenues through a complex network of companies and accounts. The complaint names numerous companies and trusts said to be linked.

Alex Rue, a securities attorney and former lawyer with the Securities and Exchange Commission, said investors should be wary of claims of opportunities that are too good to be true.

“There is always an element of, ‘Why am I so lucky?’” Rue said.

This was written when they were raided June 10,2015.

They were criminally indicted Feb 23 2016. 

A federal grand jury has indicted three executive officers of an Atlanta currency exchange firm that at one time was one of the nation's largest sellers and exchangers of Iraqi currency, the U.S. attorney in Atlanta announced Monday.

Tyson Rhame, 51, and James Shaw, 53—co-owners of the Sterling Currency Group—and company COO Frank Bell, 54, were indicted on multiple charges of conspiracy, mail fraud and wire fraud. Rhame and Shaw were also charged with multiple counts of money-laundering.

The indictment also charges Terrence Keller, a 55-year-old Internet promoter, with multiple counts of fraud. Federal prosecutors say Sterling paid Keller to illegally "pump" sales of the Iraqi dinar.

A Kentucky resident also known as TerryK, Keller ran an Internet website and chat room known as "The GET Team" that he used—along with weekly conference calls with potential investors—to promote investments in the Iraqi currency, often with a Sterling representative joining, prosecutors said.

Federal authorities have already seized and are seeking the forfeiture of the defendants' assets, including: millions of dollars held in dozens of financial accounts; millions in foreign currencies; three private airplanes; two Mercedes and an Audi Quatro; real estate in Brookhaven, Atlanta, Panama City Beach, Florida, and Charlotte, North Carolina; and 48 trusts, capital investment groups and limited liability companies in which the defendants had invested.

Sterling Currency Group, a limited liability company, also did business as Sterling Online Processing Services LLC, and Dinar Banker Sterling sold and exchanged so-called "exotic currencies," including most predominantly the Iraqi dinar.

Sterling Currency said in a news release that since federal authorities obtained search warrants and filed a civil forfeiture complaint as part of the investigation of Sterling Currency and what it labeled "the Iraqi dinar industry," Sterling has provided evidence to the U.S. attorney that it believes "demonstrated … that the central fact allegations in the civil forfeiture complaint were inaccurate, and in some instances flatly false." But, the release said, the U.S. attorney secured a criminal indictment anyway.

"From Sterling's perspective, these charges are without any merit. Sterling, a lawful business which sold a lawful product, was owned and operated by law-abiding and conscientious individuals, two of whom served extensively in the United States Armed Forces," the release said. "These executives worked hard to ensure Sterling complied with all state and federal laws and regulations. This included investing enormous resources into its compliance program and maintaining extensive legal and other professional counsel to ensure it was fully compliant with all applicable laws. Sterling and the named individuals strongly deny the U.S. attorney's charges and look forward to vigorously defending themselves throughout this process and at trial."

Mike Brown of Alston & Bird, Rhame's criminal defense attorney, told the Daily Report on Tuesday, "We look forward to defending Mr. Rhame and are confident that when the facts come out there will be a conclusion that he committed no crime.

According to the indictment, a key component of what federal authorities say was the illegal pumping scheme was Keller, who made "materially false" statements to followers of his website that he had information verified by "high-level confidential sources" in the U.S. government, the Iraqi government, major financial institutions and other international organizations. He also told followers that he had no financial motive to promote investments in the dinar but was rather an altruist who shared his knowledge so that others might benefit.

Prosecutors said Keller fueled financial speculation by predicting an imminent "revaluation" of the dinar that would lead to a quick, exponential rise in value over U.S. dollars and other stable foreign currencies. Holders of dinars would realize potentially enormous gains if a revaluation occurred. And the participation of Sterling's executives on Keller's conference calls and chat forums provided validation to Keller's followers that his claims about a revaluation of the dinar were credible, according to the indictment. Keller and his GET Team, prosecutors said, was one of the leading Internet-based proponents of speculation on a dinar revaluation.

Sterling executives didn't make direct representations about the likelihood of a revaluation or offer investment advice to Keller's followers, but the indictment said that Sterling executives "assured listeners" on Keller's conference calls that Sterling was prepared and able to handle the high volume of dinar exchanges that would likely occur once the Iraqi currency was revaluated.

Prosecutors said Keller had a secret financial arrangement with Rhame, Shaw, and Bell and was paid more than $160,000 to fuel speculation in currency sales, particularly the dinar. Keller's promotional activities generated millions of dollars in sales for Sterling Currency, which sold the dinar and other "exotic currencies" as Sterling Online Processing Services and Dinar Banker, prosecutors said.

The indictment also contends that Rhame, Shaw and Bell never believed that Keller had the high-level sources he claimed to have and warned their own employees not to speculate. But, the indictment said, Sterling executives also knew that Keller's alleged pumping activities were essential to their company's financial success and would continue to boost their sales. The dinar has not yet been revalued.

Rhame is alleged to have told colleagues that Keller and his GET Team had generated as much as 80 percent of Sterling's business and was Sterling's single largest referrer, prosecutors added. From 2010 to 2015, prosecutors said that Sterling grossed over $600 million in revenue in currency sales and generated over $180 million in distributions for the company co-owners.

"Investors in the Iraqi dinar, like all investors, are entitled to make an informed choice based on honest and transparent information," U.S. Attorney John Horn in announcing the indictment. "These defendants are alleged to have defrauded investors by spreading misinformation about the investment potential of the Iraqi dinar in order to profit from sale of the currency.

People ask how can they get indicted when any day there will be a Revaluation of the Iraqi Dinar? Well they can't so that proves that the RV is simply a never ending Nigerian scam .




Hey Kenny...


http://www.dinardaily.net/t76884-from-the-doj-owners-of-currency-exchange-business-that-made-600-million-convicted-of-fraud


http://www.dinardaily.net/t76883-sterling-currency-group-trial-update-3-atlanta-men-convicted-in-iraqi-currency-scheme-that-made-millions



Quote :
Evidence showed the defendants made investors believe they would get rich by investing in the Iraqi dinar because it was about to revalue. Such a revaluation did not come.
Back to top Go down
View user profile
Chaz
VIP Member
VIP Member
avatar

Posts : 2193
Join date : 2015-12-27

PostSubject: Re: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Fri Oct 12, 2018 6:34 am

So, here we are October 11th 2018 how's those dinars working out for you? Are you rich yet people, unfortunately your not, & you never will be, I'm glad at least I stop a few from wasting what money they had on a scam, now I'm writing a book, not just about the dinar, but how people are scammed everyday on other scams & why do they fall for these scams, anyhow it's just like old times here on dinardaily, I'll drop by from time to time, miss you all.
Blessings Charles
Back to top Go down
View user profile
nickgiammarino
GURU HUNTER
GURU HUNTER
avatar

Posts : 628
Join date : 2015-04-11
Age : 36
Location : Arizona

PostSubject: Re: DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM    Fri Oct 12, 2018 4:18 pm

Charles, it's still gonna happen, and so is human settlement on Mars haha, I'm still getting emails from people asking me why I attack Tony?

It's not attacking, it's exposing, and everyone here is doing a bang up job.

I'm really sad I didn't get to go to Atlanta to testify against Sterling, I was told I might have to, then again, I didn't know about the airport exchanges since all of that talk was from 2010-2013 before I got involved.

*****************
Nick Giammarino - Global Currency Reset

Contact me on Twitter via globalresetguy or dinarrvnews or private message (PM) me here on Dinar Daily.  I have private videos HERE
Back to top Go down
View user profile http://dinarrvnews.net/
 
DID STERLINGS INDICTMENT PROVE THE RV IS A SCAM
Back to top 
Page 1 of 1

Permissions in this forum:You can reply to topics in this forum
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: GURU FICTION & PREDICTION DAILY-
Post new topic   Reply to topicJump to: