Iraq Dinar Scam from Scam Detector

Iraqi Dinars

How the scam works:
(with video below) The hype about the investment in Iraqi Dinars has been going around for a while. Sellers explain that as democracy comes to Iraq, the economy will flourish and the value of the Dinar will grow.
The pitch is that you can buy an Iraqi Dinar for pennies now and it will be worth at least $2 as soon as the UN recognizes the Iraqi currency. Just like any other potential money making opportunity, the Iraqi Dinar hype created thousands of scammers posing as Internet dealers.
Watch the shocking video below to see in action the Iraqi Scam exposed on CNBC.

Iraqi Dinar Scam Exposed Video

http://www.cnbc.com/2015/01/15/inside-a-24-million-investment-scam-buy-the-iraqi-dinar.html

They set up fancy websites, add “Registered Dealer” logos to them, and somewhere in fine print will have disclaimers such as “No guarantee of return”, “We are not an investment company” or “All sales are final, no refund”. They won’t even mention that at present the Dinars can only be redeemed in Iraq.

Scammers claim they are registered to sell Iraqi Dinars, but what they omit to add is that they have registered with the government only as a company dealing with money-- nothing really to do with the IQD. There are some other important facts to consider if you are thinking of buying.
In most other major economies around the world, it is illegal to market an investment without appropriate securities registration, but scammers get by this, claiming they are selling the Dinars for numismatic value, as collectors’ items.

 
Additionally, when operating in the US, dealers register with the US Treasury as a money service business (MSB) to make it official, but keep in mind that MSB is not marketing an investment. Basically, don’t be impressed by titles or tags that scammers use to gain credibility.

How to avoid:
It's very hard to spot the scammers, especially since millions of people all over the world have been buying Dinars since 2003, when the new currency was released. Since everyone hopes they are going to make millions, you might even have friends who invested already and will easily convince you with their point of view. Currency trading is a very specialized field. There are easier ways to make money.

- See more at: http://scam-detector.com/financial-scams/iraqi-dinars#sthash.3tGYQDip.dpuf


COMMENTS:
Posted By: bernadine milton
Okay so I bought some Dinar way back in 2004 for around $500 per millin, I picked up about 3 million give or take. This year I finally got sick of sitting on the stuff. I think the official rate right now is about $866. I wound up selling mine recently. I only got $700 but still up a few hundo. i could have gotten more selling on ebay but im not that familiar with ebay and they charge a hefty fee anyways so they probably would have taken a 100 or so in the end. the company i sold off to i was fairly happy with, though the price i got was kind of low they had a check sent via fedex to me the same day they received my package of dinar. ive heard some stories about people having bad experiences so if your looking to sell checkout this site http://buyiqd.com/pages/sell-us-your-dinar-we-buy-dinar  
27th, May 2016  

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Posted By: Donar Billbudiss
It is now May 2016. How are you doing with that fantabulous Dinar "investment". Printer paper is worth far more per sheet that the Dinar. Sorry that you have not given up this scam by now.  
4th, May 2016  

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Posted By: The Professor
For all who have listened to TNT Tony Renfrow or "the big call" by Bruce: My name is Karen and I've been a professor at a very large western university for 17 years. Because of a friend, I began to extensively research the whole dinar/dong/Zimbabwe dollar investments as spoken of by Mr. Renfrow for several years now. I turned to colleagues and associates who are experts in the field of foreign exchange, investments, int'l finance and banking, the law, int'l relations, etc., as well as a close friend who is a V.P. of Wells Fargo and is himself well-connected to many in government. I have spent the resources I used to garner this information.
I am truly sorry for my friend who has lost a lot of $ to this fraud, and I am sorry to all of you who were lied to by these greedy, soul-less men who played upon your trust and hopes for a better future. The gov. IS investigating. Peace to you.  
2nd, October 2015  

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Posted By: Donar Billbudiss
Here we are at October 1, 2015 and the hype and promises of your "screwyouse" gurus should at least by now be alarmingly tiresome. You know you have been had so if you can get a few bucks back, take it and run.
Iraq will be lucky to survive at all much less be stable and "revalue" the worthless paper they use for money. Get real!  
1st, October 2015  

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Posted By: Abed
Iraqi dinar will raise in value as soon as the current political condition in Iraqi becomes stable. The New Prime Minister of Iraq is following a strict economic plan to improve the economic performance of all Iraqi entities. As soon as ISIL is out and Iraq is united again, there is revaluation of Iraqi Dinar and deletion of three zeros. Same thing is happening to Iranian Rials Toman Iran and the expected lift of sanctions will better the exchange rate of IRR. Remember IRanian Rial was 1750 per one dollar in year 2001... it is now 29900!  
18th, September 2015  

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Posted By: Donar Billbudiss
This scam is about on the level with the Face Book Lottery trolling. The "gurus" AKA "screw-youse" can just repost the same crap they posted years ago and still drag along the desperate, hopeful, hopeless and gullible. How many decades of this can you tolerate?
Please do not give your kids piles of this worthless paper and say you have provided for their future handsomely. Shame on you! Admit you were an idiot and move on. We all make mistakes.  
5th, August 2015  

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Posted By: Zeke
People still think the Dinar was 3.22 dollars per Dinar, a few years back. The real truth the dinar was posted at 3.22 by Sadam, but was never recognized in the rest of the world at that rate. It was 3.22 in country only. People got sucked into this thinking because it was posted on Dinar Recaps, which happens the owner of this website are the currency dealers.  
29th, June 2015  

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Posted By: Zeke
It is a scam. One website Dinar Recaps only posts comments that help push the hype. Theses websites are owned and run by the dealers that are scamming the public. These sites should be investigated by the 3 letter agencies also. These sites are the right hand of the currency dealers, therefore they should be charged for getting money from the unsuspecting under false pretenses and lies. I got sucked in over 10 years ago and just want to help someone by explaining the real truth.  
29th, June 2015  

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Posted By: DebbieBennett
I got sucked into best investment you need to buy did arsenal and it should reevaluate soon. That's been 6 years. When you are on a fixed you get excited thinking you are going to get some big dollar amount and you won't be suffering for money. Do your research wished I had.  
5th, June 2015  

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Posted By: Jimmy
Just view dinar guru and all you get is tomorrow, this is our weekend, or this is the best time ever. Then look at archives only to see this same rhetoric since 2022 and later. There is no such thing as a dinar guru, the RV is a hoax, and no where is there ANY financial group, institution, channel, etc. that even talks about the dinar. It is nonexistent and worth used toilet paper. This is as big as madoff  
5th, June 2015  

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Posted By: Donar Billbudiss
Any day now "they" will discover life on Mars or other place in the universe. Send lots of money and "they" will cure cancer. MS, ACNE, and flat feet. Just $19 per month will "save" the kids you see in the picture in A,B,C-Z country. Give me your money and this great old dinar will make you an instant millionaire....no - billionaire...soon, soon, even tomorrow. While your are at it send more money for the great old dong! Ah yes, nothing ever changes.  
1st, June 2015  

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Posted By: Jeanne
A large part of my church is involved in the dinar. My pastors are the ones to bring this to the people.. my question is... if my pastors we're reported would there be an investigation and is it unlawful?  
1st, June 2015  

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Posted By: Ben Vernaki
Total Scam! Ever week it is going to revalue any day now. Then it rains, so they delayed. Then the President took a dump, so its delayed. But I hear it's going down tomorrow. A week later, it was almost a go, but there was a riot in Iraq so they delayed. All Bull Shit! The people writing the bull shit should be arrested for fraud.  
13th, May 2015  

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Posted By: Abdeljalil Ghaith
Why invest in Iraqi Dinar?
Iraqi Dinar is the hottest investment opportunity of this decade. In the past, the Iraqi Dinar was worth $3.20 USD and the oil reserves in Iraq are worth over $11 trillion. All indications are that there will soon be a sharp rise in the value of Iraqi Dinar. Oil prices have a significant effect on the value of the currency, and there is always instability in oil prices. Iraq is expected to be one of the top oil producers in the world in the next decade.
Just remember, if you are investing in Dinar, you are investing in your future. If you buy Iraqi Dinar now, you will reap lifelong benefits.  
15th, April 2015  

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Posted By: Richard Boyd
Mohammed Saleh, who is the adviser of the Central Bank of Iraq, said that the Iraqi currency is required to get expanded, and they are working to issue currency Banknote of 100 thousand dinars.

Saleh also expressed in a statement that the Central Bank of Iraq (CBI) looks at the idea of reorganizing the Iraqi currency in terms of specifications and forms, so they will be issuing new banknotes of Iraqi currency, which will have the capability of shortening the large quantity of money papers and he also indicated that continues use of the $100 banknote is really a big proof of importance of issuing a banknote equivalent to it.

CBI is always holding 5 auction sessions per week, for the purchase or sale of foreign currencies, and with a commission of 13 dinars/ dollar for cash selling, and also 13 dinars/ dollar for the sale of remittances outside of Iraq.  
9th, April 2015  

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Posted By: pixie2
Pixie2@Southern Shaker... You stated Kuwait never rv'd but it was announced here in the US on TV and radio...  
4th, December 2014  

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Posted By: DAVID THE TRUTH
YOU WANT TO WATCH THE DINAR RV SCAM LIVE? LOOK AT DINARGURU.COM -- CHECK OUT THE ARCHIVES AND RECENT MATERIAL AND ALL YOU SEE IS "TONIGHT", "THIS WEEKEND", "BY NEXT TUESDAY", "NUFF SAID"... THE WORST ARE POPPY, AN IDIOT CALLING HIMSELF TONY TNT, AND MANY MORE SUCH AS MOUNTAIN GOATS, JESTERS, AND MORE. NOTE THAT FORBES MAGAZINE SAID BACK IN 2012 THAT THE POLITICAL THEATRE IN IRAQ WOULD DELAY, DELAY, DELAY, DELAY THE SO CALLED RV. ITS NOT GOING TO HAPPEN. TOO BAD FOR THOSE WHO INVESTED HUNDREDS AND THOUSANDS TRYING TO BECOME THE NEXT GEORGE SOROS. ITS ALL A JOKE. ITS A SCAM. ITS A FRAUD. ITS SILLY. ITS NOT HAPPENING  
29th, October 2014  

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Posted By: truthpro
Interesting Intel..without facts, one can only guess. So here are the facts about the dinar. From 2000 til May 10th 2004, the Iraqi dinar traded at a steady rate between $3.21-$3.22, give or take a couple cents...overnight on May 11th 2004 the dinar plummeted to $.0007075..that is Fact..history fact on Forex,XE, etc...so yes a currency can devalue and devalue overnight...it's been done throughout history..all wars are bankers wars..period..  
1st, October 2014  

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Posted By: Collette
I know someone that invested in dinar and when her husband came down with Parkinson's, she awaited to get special treatments for Parkinson's and her husband died. It was any day now ....then we can get the treatment....she should have invested in medical insurance instead!  
29th, May 2014  

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Posted By: SOUTHERN SHAKER
oNE OF THE BIGGEST GURUS IS TNT TONY. HIS NAME IS ANTHONY RENFROW AND HE IS A CRIMINAL. HE HAS A TRIAL COMING UP IN KANSAS CITY DISTRICT FEDERAL MCOURT MARCH 25, 2014 FOR THE 14DAILYPLUS SCAM WHERE HE AND BILL FOX ALONG WITH HOLTON BUGGS SCAMMED PEOPLE OUT OF OVER $4,800,000.00. GO TO YAHOO AND TYPE IN THE REGULAR SEARCH BAR -- TNT TONY AKA ANTHONY RENFROW IS STARTING TO CRACK. THEN TYPE IN THE SAME PLACE --WHO IS TNT TONY? GAME OVER. THEN TYPE IN www.docketalarm.com/cases/Kansas District Court/2--12-cr-20041/USA v Renfrow et al HIS BROTHER RAYREN (RAY) IS ALSO A SCAM ARTIST JUST LIKE TONY. RAY IS A CONVICTED FELON ALSO. www.justice/tax/RRenfrow Memo and Recommend.pdf TONY ALSO WAS THE RENT MY CREDIT SCAM AND THE MIDAS TOUCH SCAM AND THE 14DAILYRELOADED SCAM. THE IRAQI DINAR WILL NOT RV PERIOD. IF THE DINAR WAS TO RV TO 1 DINAR TO 1 USD THAT WOULD BE 116,000% INCREASE, 1 DINAR TO $3.44 USD WOULD BE 399,000% AND 1 DINAR TO $36.86 USD WOULD BE 4,275,800%!!!!! THIS IS RIDICIOUS!! GO TO WWW.MRIQD.COM -- WWW.BAGHDADINVEST.COM -- WWW.IRAQ CURRENCY WATCH.COM -- THESE SITES WILL AWAKEN PEOPLE. THINK OF THE RIDICILOUS EXCUSES/CLAIMS: PEOPLE DANCING IN THE STREETS, IN COUNTRY RV, ATM'S LOADED, CARDS LOADED, CONTRACTORS PAID, WHALES PAID, ELITE PAID, CIA CALLING TONY, IMF CALLING TONY, UST CALLING TONY TO ISSUE 800#'S, PEOPLE IN TENTS AT USA BANKS STOPPED RV, PEOPLE ON BUSES STORMING BANKS STOPPED RV, OUT OF HUMAN HANDS TURNED OVER TO RANDOMIZING COMPUTER, FBI-DHS-US MARSHALS AND LOCAL LAW AT BANKS NOW FOR RV, BANK EMPLOYEES CALLED BACK TO WORK (AT NIGHT ON WEEKEND), BANKS ON HIGH ALERT, CALL CENTERS MANNED, CLAWBACK CLAUSE, BACKWALL TIME, INTEL SO GOOD YOU'LL POOP YOUR PANTS BUT BEEN TOLD NOT TO TELL YOU CAUSE YOU COULDN'T HANDLE IT, WELLS FARGO BANK CASHING (WELLS FARGO WON'T TOUCH THE DINAR WITH A 10 FT POLE CALL SF CALIF HEADQUARTERS), USA CONTRACT RATES, POLITICIANS BEING ARRESTED IN WASHINGTON DC, UST IN CHARGE OF RV, UST NOT IN CHARGE OF RV,IMF IN CHARGE OF RV, IMF NOT IN CHARGE OF RV, OBAMA STOPPING RV, DONE DONE DONE, ALL COMPLETED NO TURNING BACK NOW, RV SCROLLING ACROSS BOTTOM OF IRAQI TV SCREENS, SHOWING ON BANK BACK SCREENS, SHOWING ON BANK FRONT SCREENS, OTHER COUNTRIES RV'ED BUT NOT IN THE USA. THESE ARE JUST A FEW OF THE DAILY, WEEKLY, MONTHLY AND YEARLY THINGS TONY REPEATS OVER AND OVER AGAIN AND AGAIN. tHE GURUS PUMP HYPE CAUSING THE PEOPLE (SHEEPLIN/PEEPS) TO BUY WEEKLY. tHE GURUS GET A % OF SALES FOR THIS. GURUS LIKE TONY ALSO HAS CONFERENCE CALLS. THE CC COMPANY GETS AROUND .16 CENTS PER MINUTE FOR EACH PERSON ON CALL WHICH IS NORMALLY 5,000 TO 15,000 PEOPLE. DO THE MATH. THE GURU GETS A KICK BACK FROM10% TO AS HIGH AS 50% IN SOME CASES. THEN THEY'LL HAVE A DONATION SPOT ON WEBSITE AND ALWAYS CLAIM THEY ONLY GET A FEW DONATIONS (NOT TRUE PUMPING FOR MORE DONATIONS). THEN WHEN THE SCAM IS ABOUT TO BELLY UP AS THE DINAR SCAM IS THE GURU WILL SELL HIS WEBSITE TO A MLM CO FOR THE NAMES AND EMAIL ADDRESSES. MOST GURUS HAVE A BACK ROOM CHAT FEE OF $14 TO $20 TOO. WHEN IT STARTS TO WIND DOWN THE GURU WILL GET THE PEOPLE ANGRY AT THE GOVT AS TONY IS DOING THEN CLAIM TO HAVE NERVOUS BREAKDOWN OR THREATENED BY THE GOVT BY HAVING THEM TO TWEET THE GOVT THEN LATER FACEBOOK THEM. I HAVE BEEN WORKING WITH THE AGENCIES FOR OVER 5 MONTHS ON SOME OF THESE GURUS LOKE TONY, OKIE, RAY AND MORE EVEN THE SITES LIKE DINARRECAPS. DON'T TAKE MY WORD FOR IT GO LOOK AT THE PLACES I TOLD YOU OF AND MAKE UP YOUR OWN MIND. MOST A LOT OF PEOPLE WILL REMAIN IN DENIAL BECAUSE THEY DON'T WANT TO BELIEVE THEY'VE BEEN SCAMMED. PEOPLE YOU WILL NEVER BECOME A MILLIONAIRE FROM IRAQI DINAR. THE VERY MOST THE DINAR CAN INCREASE IS 1% TO 3% OVER THE NEXT 3 TO 5 YEARS. DINAR IS NOT A FLOATING CURRENCY PERIOD. THE DINAR IS NOT INTERNATIONAL I DON'T CARE WHAT A GURU LIKE RENFROW TRIES TO TELL YOU. AS A MATTER OF A FACT KUWAIT NEVER RV'ED PERIOD. EDUCATE YOURSELVES. THEN GO TO WWW.IC3.GOV AND WWW.FTC.GOV AND TURN THESE SCUMBAG CON ARTIST SCAMMERS IN. HOPE THIS HELPS IT'S YOUR CHOICE TO BELIEVE IT OR LAUGH AT IT. BUT IF YOU THINK YOU CAN EXCHANGE $300.00 FOR $9,215,000.00 THEN YOU CERTAINLY WON'T BELIEVE NOTHING I TRY TO TELL YOU. ONE OF THE MAJOR THINGS THESE SCAMMERS PLAY ON ARE CHRISTIANS. GOOD LUCK AND GOD BLESS ALL OF YOU.  
6th, February 2014  

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Posted By: Raymond Mercer
Don't get caught up the scam. The Dinar Guru site has all these people hyping up the dinar and every week they say it is going to revalue. Months go by and it's the same old story. And why is it those so called gurus don't use their real names? Blanche Bonet, the guy who runs the sure is also trying to get people to buy stuff... The Secret To Dinar Investing. You pay $49 per month and you get the latest updates on the revaluation.  
28th, November 2013  

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Posted By: Frank
I am always leary of anything that promises so much for so little. Grandma always said..."if it's too good to be true it usually is".  
25th, November 2013  

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Posted By: rellonlore
I bought some Iraqi dinar in about 2006. The company I bought from was USdinar are they a good place to have bought from  
4th, October 2013  

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Posted By: Moon
I feel bad because I think my uncle is caught up in this scam. Peoe have invested so much money and lost so much that now they have nothing sale but to believe that it will happen or gain a lot of money. Some people go as far as to use religion , to get others to buy or be patient , knowing that is is a scam.  
22nd, August 2013  

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Posted By: Jon
Iraqi dinars can be redeemed outside of iraq, I'm currently in the UAE and u can buy or return ur Iraqi Dinars at any of the currency exchange places here with no problems.  
13th, August 2013  

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Posted By: thank you
I almost got scammed by the dinar company. I put a stop payment on my check. I tried to warn a friend but she would not listen. I am glad I got out.  
30th, July 2013  

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Posted By: Kathleen
scam???  
7th, June 2013
- See more at: http://scam-detector.com/financial-scams/iraqi-dinars#sthash.3tGYQDip.dpuf

Right on target Ssmith...........


I remain, 
Just4Tom74

I will say this again the dinar  is not a scam but the things around it is. at the same time you can still sell the dinar    not what  you paid for but about 75% of your investment but in any investment  you can win or lose.imho you will be lucky if it reaches ten cents not the 3 or 4 dollars that the gurus claim. if you feel funny about this investment I would sell and recoup something is better then nothing and then you do not have to worry about a scam. I think this makes perfect sense

Jayzze, you are talking to an empty room- Nobody will respond because most can't comprehend what the 'f' you are talking about...Grapefruit is on sale at Win-Dicksy-

jayzze...

when you sell back now one only gets back less than 50%. Right now it is less than 500.00 per million IQD on sell back here in Illinois. I got 624.00 a year and a half ago when I sold mine back so you can see how much it has devalued since then.

10 cents?  Not a chance.

thanks.... which is still around 50% from what most paid per million. The amount fluctuates. But you will not get back 75% of the money you shelled out.... ever.

Unless it actually RV's.

Just goes to prove you can lead a horse to water or in this case the truth but unfortunately you can't make the horse drink or make people see what a scam is when they see one...

I remain,
Just4Tom74

For what its worth: Texas Currency Exchange on the Riverwalk in downtown San Antonio are happily buying and selling Dinar. They sell a million at $994.00 out the door and buy a million for $500 even. They have all you want. You may call them at 2102274447 and ask for yourself. 

That disproportionate buy/sell ratio should tell you something immediately.

Get rid of the money changers!!!!  Seems like the last One who tried that got nailed to a cross...

I remain,
Just4Tom74

Hope all has gone well since I have been gone.  Looking worse as the days that have gone by since I last posted.

I remain, 
Just4Tom74