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Post by chevysteve on Fri Apr 19, 2013 2:47 pm

By Dana Treen


Jacksonville man pleads guilty in Ohio to conspiracy in Iraqi dinar case
The Florida Times-Union
Dana Treen
April 19, 2013 11:29 AM EDT
Copyright 2013 The Florida Times-Union. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

A Jacksonville man pleaded guilty Thursday in an Ohio federal court to a scheme to defraud investors in the sale of Iraqi dinar currency and two non-existent hedge funds, authorities said.

Rudolph M. Coenen, 47, pleaded to one count of conspiracy to commit wire fraud, one count of wire fraud and five counts of money laundering. His sentencing is scheduled for Aug. 12.

Coenen and three other men promoted Iraqi dinar as having the potential to rocket in value once a reevaluation of the currency took place. They said the investments were protected by the U.S. government.

In addition to the sale of dinar, the conspiracy marketed seats on two non-existent hedge funds that were going to control dinar investments after the currency was revalued.

Coenen was presented to investors as a wounded Iraqi veteran who had deep knowledge of dinar trading and was a former vice president at JP Morgan Chase.

In the plea, Coenen admitted he was not a former Marine who served in the first Gulf War, he had not been wounded in combat and he was never awarded a Purple Heart.

He operated a business known as Bayshore Capital Investments to collect funds related to the non-existent hedge funds.

Approximately $722,000 was solicited from prospective investors, according to court documents.

Three Ohio men, Bradford Huebner, Charles Emmenecker, and Michael Teadt, are awaiting trial in the U.S. District Court in Ohio


Read more at Jacksonville.com: http://jacksonville.com/news/crime/2013-04-19/story/jacksonville-man-pleads-guilty-ohio-conspiracy-iraqi-dinar-case?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JacksonvillecomNews+%28Jacksonville+Local+News+%E2%80%93+Jacksonville.com+and+The+Florida+Times-Union%29#ixzz2Qw6xm0Ql
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Post by Guest on Fri Apr 19, 2013 2:52 pm

Coenen seems familiar as someone who was doing con. calls touting hedge fund investments about 2 years ago. I think he was going by the name Eddie Coenen.


Last edited by AJAnderson on Fri Apr 19, 2013 2:55 pm; edited 1 time in total

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Post by SEBtopdog on Fri Apr 19, 2013 2:55 pm

Never heard of any of them, but it's a good public service to bring this article over here. Thanks ChevySteve.

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Post by Guest on Fri Apr 19, 2013 2:57 pm

These certainly are the types of frauds members need to watch out for both pre and post RV/RI.

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Post by fang2 on Fri Apr 19, 2013 3:10 pm

I heard of both men Coenen and Huebner. They have been after them for a while. They had their own Dinar site. Dinar Daddy promoted them a lot. I only listened to one of their conference calls 3 years ago. GUILTY!! Anybody recognize any of these names:) 2350219667Shame on them!!!!
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Post by fang2 on Fri Apr 19, 2013 4:09 pm

I believe they were called The Currency Group!
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Post by Guest on Fri Apr 19, 2013 4:30 pm

Rudy Coenen was his name!

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Post by fang2 on Fri Apr 19, 2013 5:08 pm

That is right AJ, the person that got me into this investment was a total follower of this group!!!! I have not heard from the friend in over 2 years!!! I did call him a twice of times. !!!! It was Rudy !!!!!
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Post by Kevind53 on Fri Apr 19, 2013 5:21 pm

This is actually sort of old news, the indictment handed down was over a year ago. It seems to me there were also charges dealing with securities fraud, and trading securities without a license, they must have been dropped in a plea bargain. I seem to remember something about dinar being sold as part of the hedge fund or something like that as well.

I think the big thing though is that they were implying that the dinar investments were sanctioned and guaranteed by the government. As I said the other night, if these clowns ARE actually crossing the line, sooner or later, they will get an all expense paid trip up the river.

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Post by fang2 on Fri Apr 19, 2013 5:31 pm

Yes indeedee!!
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Post by chevysteve on Fri Apr 19, 2013 6:23 pm

@Kevind53 wrote:This is actually sort of old news, the indictment handed down was over a year ago. It seems to me there were also charges dealing with securities fraud, and trading securities without a license, they must have been dropped in a plea bargain. I seem to remember something about dinar being sold as part of the hedge fund or something like that as well.

I think the big thing though is that they were implying that the dinar investments were sanctioned and guaranteed by the government. As I said the other night, if these clowns ARE actually crossing the line, sooner or later, they will get an all expense paid trip up the river.



Yes Kev, The indictment was handed down about a year ago. The "new news" as stated in the article dated today April 19th 2013 is that this group of frauds actually pleaded "Guilty" or at least one of them did, I'm sure the rest will follow as charges mount.

Anyway...................................................
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Post by Ponee on Fri Apr 19, 2013 6:30 pm

Thanks Chevy !!!! GUILTY!! Anybody recognize any of these names:) 230677302

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Post by Kevind53 on Fri Apr 19, 2013 6:30 pm

Well from what I saw they were pretty much had dead to rights. They were definitely in violation of more than a few SEC regs. I smell a plea bargain with him getting off light. I don't remember for sure, but I'm pretty sure there were some heavy charges dropped.

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