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Post by The Great Oz on Sat Aug 08, 2015 12:07 pm

Sterling Currency Group
Inbox
 x
SCG/DinarBanker
 
8:26 AM (27 minutes ago)
 
to me

Dear Sterling Customers,

We are writing to give you an update on the civil forfeiture seizure of the U.S. Currency and Iraqi dinars seized from Sterling on June 3, 2015. As we have previously explained, Sterling Currency Group has been working diligently to convince the government to release the dinars that you ordered and/or purchased so that they could be delivered to you or (alternatively) to release the money that you paid for your currency so that it could be refunded to you. Sterling and it's counsel have clearly explained to the government that much of the funds seized from Sterling on June 3, 2015 belong to you, our customers.

We have further explained the damage caused to you and the hardship/disappointment it has created for you. We have explained that Sterling has the customer information, expertise, procedures and processes in place to responsibly take care of our customers who had open orders as of June 3, 2015. We have offered to submit to any government accountability options in order to return funds to Sterling customers. Despite our repeated requests, the government is unwilling to let us refund your payments or deliver the currency that you purchased. We are truly sorry that this has happened to you.

Unfortunately, we do not believe the government attorneys will change their minds. You may consider filing a claim with the United States District Court for the Northern District of Georgia. The case number is 1:15-CV-2677. You may wish to send a letter explaining why you chose to purchase dinar and request the order be completed, or may choose to request a refund of the money you sent to Sterling.

Please know that we are working tirelessly not only to defend the suit, but to meet the needs of our customers. It is important to remember that the only legal action the government has taken is a civil forfeiture, which only requires probable cause to believe a crime was committed. A recent article from the Wall Street Journal explains the civil forfeiture process. We believe the government’s allegations are unfounded and we are vigorously defending the lawsuit.

Thank you for being loyal Sterling Customers and, again, we are sorry that the government’s action against Sterling Currency Group has impacted you and your families. If/when Sterling is successful in its recovery efforts, Sterling will work diligently and responsibly to complete your order or refund your purchase. We appreciate your patience and understanding as Sterling attempts to overcome the government actions that have hampered Sterling's ability to exercise the level of service it has provided for over 10 years.

Sincerely

Sterling Currency Management

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Post by Ssmith on Sat Aug 08, 2015 12:35 pm

Right now it's a civil complaint.  That doesn't mean it won't go forward into a criminal complaint.  I would imagine why the government isn't releasing a thing.
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Post by dwm007 on Sat Aug 08, 2015 1:51 pm

I would not want to have to hold my breath until that criminal complaint is filed however, although I think that's the intent and it will probably eventually happen, the only people slower than the Iraqi politicians is the U.S. court system!

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Post by Ponee on Sat Aug 08, 2015 2:05 pm

That is true dwm007.  Look how long it took for the Bh Group.  You would have thought all these dealers and gurus would have looked at that as a warning.  Instead, I think they reveled in the thought, "glad it was them and not me".  Little did they know they were all on the radar.

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Post by Toby1 on Sat Aug 08, 2015 2:12 pm

This will get drawn out for many years, as the govt. is so good at doing. Sterling will not have their high powered attorneys or money to fight. More than likely in 3 years they will settle this with a plea deal and all Sterling employees will be broke and the dinar will be bust.
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