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Buckhead-Based Business Owners Indicted in Iraqi Currency Scheme DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Buckhead-Based Business Owners Indicted in Iraqi Currency Scheme

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Buckhead-Based Business Owners Indicted in Iraqi Currency Scheme Empty Buckhead-Based Business Owners Indicted in Iraqi Currency Scheme

Post by Ssmith Tue Feb 23, 2016 9:33 am

Buckhead-Based Business Owners Indicted in Iraqi Currency Scheme


Sterling Currency Group once billed itself as one of the largest Iraqi dinar exchangers in the United States.

Buckhead, GA
 By Tim Darnell (Patch Staff) -     February 23, 2016 8:57 am ET      
 
ATLANTA, GA – The co-owners, chief operating officer, and an alleged paid promoter of Sterling Currency Group -- which once billed itself as one of the largest sellers and exchangers of the Iraqi dinar in the U.S. -- have been indicted in a scheme to fraudulently induce investors into purchasing the Iraqi dinar.


Tyson Rhame, James Shaw, Terrence Keller, and Frank Bell had their initial appearances in court on Monday.Prosecutors say Sterling, headquartered in Buckhead, sold and exchanged so-called “exotic currencies,” including the Iraqi dinar. Rhame and Shaw were co-owners of Sterling, which began operations in 2004. Bell began working for Sterling in 2010 and became COO in 2011.

According to the indictment, Keller led an internet-based group known as The GET Team, which consisted of a website, an internet chat forum and weekly conference calls where information was disseminated to participants concerning the potential investment value of the Iraqi dinar.


Keller allegedly said he had information from high-level sources in the U.S. and Iraqi governments and elsewhere regarding an imminent re-evaluation of the Iraqiu dinar. However, prosecutor say Keller didn’t have any such information, and that Keller and the other three men named in the indictment believed such claims would boost sales for Sterling.

“Investors in the Iraqi dinar, like all investors, are entitled to make an informed choice based on honest and transparent information,” said U. S. Attorney John Horn. “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. We urge anyone who believes they were impacted by this scheme to contact the FBI.”

According to a statement on Sterling’s website, the company denies any wrongdoing.



“These charges are without any merit,” the statement said. “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 U.S. Armed Forces. These executives worked hard to ensure Sterling complied with all state and federal laws and regulations. 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.”

http://patch.com/georgia/buckhead/buckhead-based-business-owners-indicted-iraqi-currency-scheme-0
Ssmith
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