Zigs

If it was a matter of just money laundering/scam, the FBI doesn't need the IRS. The IRS does have limited power as to investigations as I understand, partnering up with the FBI, might indicate tax issues for Sterling.

Very Interesting Kristi, thank you.

It appears the FBI and IRS are doing the investigation together. "The co-owners of the company, Tyson Rhame, James Shaw and Carol Laurette Shaw, do not face criminal charges at this time, but the federal filing makes it clear they are the focus of a criminal investigation by the FBI and IRS." Sorry about the quote box. Anyway, this article makes it clearer as to the direction they are going if the IRS is involved. http://dinarvets.com/forums/index.php?/topic/204068-sterling-group/#entry1544881 I forgot the link.

An article of interest, http://www.13wmaz.com/story/news/crime/2015/06/11/feds-go-after-atlanta-company-selling-iraqi-dinar/71095638/ So the FBI and IRS are investigating together, this makes sense as to why Sterling is being singled out. "The co-owners of the company, Tyson Rhame, James Shaw and Carol Laurette Shaw, do not face criminal charges at this time, but the federal filing makes it clear they are the focus of a criminal investigation by the FBI and IRS."

This was on the front of Sterlings website, a response letter, you all probably have read it, but I will post it. Given our long history of proactively working with federal authorities, Sterling Currency Group was completely surprised by the recent federal complaint and strongly denies any allegations of wrong doing. Sterling has been in business as a currency exchange company since 2004 and in that time has conducted millions of exchange service transactions with nearly 200,000 customers, all the while maintaining an "A" rating with the Better Business Bureau. Sterling has spent millions of dollars and logged thousands of hours to ensure complete compliance with statutes and regulations in all 50 states as well as with the federal government. Additionally, the company has also proactively sought independent audits and inspections since 2007. It has requested and participated in meetings with officials from multiple federal agencies to ensure all actions of the company are above reproach. The company has been registered with the United States Department of the Treasury, through the Department's Financial Crimes Enforcement Network (FinCEN) bureau, as a Money Service Business since 2006, and thus has participated in on-site examinations by FinCEN on several occasions. Despite the statements in the civil complaint, every single business related to the owners of Sterling Currency Group is legitimate and is compliant with all state and federal laws. Finally, we believe the record will show that representations made about internal communications between employees at Sterling in the civil complaint filed by the federal government are inaccurate and taken out of context.

Thats interesting Yota, this was an article in Iraq.

Adam makes a good point which I think everyone has noted, if it was the dinar, and if the FBI are looking to shut Sterling down because of a scam, why aren't they raiding other dinar companies? Perhaps they had enough glue in the money laundering and emails to find other activities Sterling might be involved in. There are a couple of things they would put so much effort in, one being tax evasion, or suspicion of it.

This is good news. Well it does sound like they will fulfill their obligation, and I assume they will send them dinar they have put aside in the layaway. Yes?

I would agree Adam, there is, in my opinion more to their focus on Sterling than meets the eye. We will see, in the meantime we wait.

Ron, at this point in time, you shouldn't worry about the dinar sold to you by GID, Sterling. If you have it in a safe spot, like your shoe box, its good. There is no indication this is counterfeit, via UST is not involved, just FBI. The folks that will be hurt, are those with dinar in reserves/layaway.

I will note that and hang it on my screen.

Well its beyond me how that happened. I've forgotten how to post around here apparently! Hey how ya doing?

I think if they were not licensed it would be in the complaint. So having said that, they knew(treasury), what Sterling was selling, where Sterling was buying the dinar, and how they were selling it. Sterling has been audited and passed them, as far as I know. Sterling has been in business for 11 years, in those 11 years, I am sure the government was informed of pumpers working for Sterling and others as well. As far as Terry K is concerned, even today we see the pumpers are alive and well. They don't seem to be concerned about the FBI having a chat with them. My question as far as Terry K is, even though Sterling is or we think is licensed to sell currency, they are not nor have they claimed they were a financial institution. The only way he would be in trouble I would think, is if he believed the dinar was a scam, and profited. If he testified he did believe it was not a scam and an RV or the dinar would rise in value, and they have no evidence contrary, I don't know if the charges against him would stick. Just a thought. Money laundering is usually associated with crimes that provide a financial gain. This includes, but is not limited to, bank fraud, insurance fraud, mortgage fraud, health care fraud, securities/commodities frauds, advanced fee schemes, high yield and prime bank note schemes, Ponzi schemes, government fraud, corporate and occupational frauds, cyber crimes, public corruption, drugs, organized crime, and the financing of terrorism. Money laundering differs from other types of criminal acts in that it is not a stand-alone crime. The laundering of funds is typically a secondary criminal act – typically without proceeds from an underlying crime, there can be no money laundering. I think they are suggesting Sterling is a Ponzi Scheme, as Adam pointed out very articulately, "If they are giving physical dinar to their customers, there is no ponzi. It's a simple transaction, where the customer receives exactly what they paid for." Now they may be in the hot seat via the reserves, in other words, they did not have the reserves/or had no reserves as the claimed they had. That could put them under the shadow of a Ponzi scheme/money laundering offense.

And that is a good question SnowGlove, why haven't they? Maybe they aren't getting paid by a dinar company, so they continue to keep their sites up? OR they aren't too worried about it. My question is this, was Sterling Licensed by UST to sell currency? Anybody know for sure?

Maybe LGD. One thing is for sure now, people will fill out and submit the online paper, people will sell their dinar on other sites or other places. What a great way for Iraq to bring the dinar in, don't you think?

18 U.S. Code § 1956 - Laundering of monetary instruments https://www.law.cornell.edu/uscode/text/18/1956

I do see what you mean Freedom. The biggest problem for Sterling is the money laundering issue, here is the definition, via FBI investigations. Money laundering is defined as the process of concealing or disguising the proceeds of a crime or converting those proceeds into goods and services. It allows criminals to infuse money obtained illegally into the stream of commerce, thus corrupting financial institutions and the money supply. While many definitions for money laundering exist, it can be defined very simply as any knowing use of the proceeds of criminal activity. Money laundering is usually associated with crimes that provide a financial gain. This includes, but is not limited to, bank fraud, insurance fraud, mortgage fraud, health care fraud, securities/commodities frauds, advanced fee schemes, high yield and prime bank note schemes, Ponzi schemes, government fraud, corporate and occupational frauds, cyber crimes, public corruption, drugs, organized crime, and the financing of terrorism. Money laundering differs from other types of criminal acts in that it is not a stand-alone crime. The laundering of funds is typically a secondary criminal act – typically without proceeds from an underlying crime, there can be no money laundering. Now if counterfeiting was involved, which is not in the complaint, but for those whom are concerned, we would be seeing the CIA involved. The CIA also investigates money laundering as well, as I understand. It seems to me this investigation is only about Sterling and its subsidiaries, no other dinar sellers are being investigated, nor seem to be running for the hills. Why aren't they? Its the same dinar, its the same deal, why is Sterling in hot water>?

As I was posting, it was rectified. Its been a long time since I was here, so I kind of forgotten how this works.

Count One: Copyright Infringement Count Two: Circumvention of Copyright Management Information in Violation of 17 U.S.C. § 1201 et seq. Count Three: Federal Trademark Infringement in Violation of 15 U.S.C. § 1114 Count Four: False Designation of Origin/False Advertising/Unfair Competition in Violation of 15 U.S.C. §1125(a) Count Five: Federal Trademark Dilution in Violation of 15 U.S.C. § 1125© Count Six: Common Law Trademark Infringement Count Seven: Common Law Unfair Competition Count Eight: Violation of Michigan Consumer Protection Act (MCL§§ 445.901 – 445.902; § 445.903) Count Nine: Violation of Michigan Trademark Act (MCL §§ 429.31 – 429.36; § 429.42) Count Ten: Common Law Tortious Interference Count Eleven: Common Law Civil Conspiracy Count Twelve: Respondeat Superior Count Thirteen: Abuse of Process Count Fourteen: Frivolous Lawsuit They have not been charged with anything, yet. The above is from a civil suit, I believe. But no doubt they will be charged. Warrants have been issued.

Personally if I were Abadi I wouldn't let them sit together.....just saying.

Don't you kind of have to have a country for your own currency, and like a bank of some sorts and recognized by other countries?

Its all political jargon. It does have a sense of "play nice" and leave with respect.

My question is how is this possibly related to Maliki? He is on his way out, I can't imagine he would have any authority now. But I suppose some of his minions could that remains on the judiciary committee.

I'm wondering how one can talk to fake relatives?

I am not thinking a 3 dollar RV is inevitable and no that has never happened. What I do see is, they are not going to RD, at this point in time, they are replacing and keeping the same currency code. That is very important, even Keep would agree with that. Now, they need stuff from other countries, import. The dinar has to move up a few slots to cover their bases and be able to afford the needed products, along with tarriffs. The dinar is undervalued, I see a slow rise, that in itself is positive. I have no clue if your a "good guy", I really do not care. I think your the last of the die hard lopsters, who want to save us from the dinar. No RD, now what? I mean this is what you are basing your "scam" on? So the IQD becomes internationally recognized, which they probably will, after the dust settles politically, the dinar does rise, that is a profit. Oh sure not what I would call worth the trip after so many years, but hey I waited for my children to RV for years, and now I am enjoying the sunshine. Never say never, god works in mysterious ways.