BH Group indicted

[Dalite]

Quote:

" we can still return it for a refund......."

Unquote:

******I've got my pessimist hat on.

Suppose the CBI RDs in January as it stated that is wants to do.

The sales of "old " dinar dry up. Foolish to collect it anymore. Those dealers still in busines will increase the "restocking fee"

Small dealers wont have enough dollars to stay in business. They're GONE.

Facing the pending demonitization , forced to sell at any price!

Depending on how the IRS treats in the best you have is a potential tax write-off.

I agree; the restocking fees are already off the charts - but not yet non-existent.

The trend to watch is if the established dealers (who may actually have ties to some real intel) start deep discounting, it may be time to call in the dogs and put out the fire.

The dealers would have to face the same concerns we have, RV, or RD.

Whenever the new currency does come out, at the very best, they face a 13 dinar per dollar commission to sell in anticipation, or worse, whatever spreads they have to pay for gray-market exchanges.

This is where everyone has to face the hard decisions; and it could get costly.

I don't personally feel anyone will face total loss, as long as they hold physical currency.

The negative press that has been materializing is putting the speculation on the radar screen of the legal bottom feeders, and this may force some currency dealers to " spread their wealth" on the exchange or buyback procedures.

At any rate, it has been, and continues to be a very interesting and educational ride.

"You buys your ticket, and you takes your chances".

[nemesis760]

Honestly I believe that there are keywords that seem to overtake the readers mind when we read this, the word Dinar. The thing i had to read twice to make sure i understood was the fact that the charges were Conspiracy to commit wire fraud, wire fraud and money laundering.

These are the samethings a mob or cartel banker would get.

These charges, I am 99% certain pertain strictly to the fraudulant hedge funds.

The fact that these men participated in the selling of the risky Dinar speculation was brought up to degrade their morale character. To further prove that what they were doing was in no way unintentional. Probably sounded something like

"..these men knew exactly what they were doing to the hedge fund investors when conning them out of their money. They are pushing other high risk quote/unqoute investments such as the Iraqi Dinar..." and then goes on to explain exactly what is in her inditement.

I have been in my fair share of trouble in the past and have looked at my charges in complete disbelief, and had my attorney tell me that they will throw every charge and every possible character flaw out to try and get the highest possible conviction. As much as an attorney doesn't want to admit, it does come down to stats, W vs L.

[rulesforrebels]

a friend who lives in toledo sent me this article the morning it came out as he knows i hold dinar. i was curious so what are they actually in trouble for selling it as an investment or money laundering or what? i was also reading something about a hedge fund?

[zigmeister]

a friend who lives in toledo sent me this article the morning it came out as he knows i hold dinar. i was curious so what are they actually in trouble for selling it as an investment or money laundering or what? i was also reading something about a hedge fund?

This has nothing to do with the legitimacy of the dinar. What it does have to do with three guys accused of wire fraud, attempting wire fraud, money laundering, and the list goes on.

[Doctor Smith]

This has nothing to do with the legitimacy of the dinar. What it does have to do with three guys accused of wire fraud, attempting wire fraud, money laundering, and the list goes on.

Looks like a witch hunt to me. Unless they took money for the non existent hedge funds they were planning, without refunding the money if asked.

Good for us IMO because it will scare off future buying of Dinar. Making it more likely to increase in value.

All these multilevel blabbermouths making up outrageous fantasies to get anyone listening to invest. Making it less possible (with every lie) that any substantial RV will happen.

[Rayzur]

Looks like a witch hunt to me. Unless they took money for the non existent hedge funds they were planning, without refunding the money if asked.

Good for us IMO because it will scare off future buying of Dinar. Making it more likely to increase in value.

All these multilevel blabbermouths making up outrageous fantasies to get anyone listening to invest. Making it less possible (with every lie) that any substantial RV will happen.

I'm curious as to your thoughts as to what aspects you believe to be a witch hunt. Not that I disagree, just wondering what components you believe to be witch hunting? Love your thoughts about limiting the investor pool.... that would be a pretty sweet kick

[easyrider]

people need to understand these guys have been under investigation for a while now this is NOT new. We shall see now which charges stick for Rudy and Brad and it seems the others got off already.

Looks like a witch hunt to me. Unless they took money for the non existent hedge funds they were planning, without refunding the money if asked.

Good for us IMO because it will scare off future buying of Dinar. Making it more likely to increase in value.

All these multilevel blabbermouths making up outrageous fantasies to get anyone listening to invest. Making it less possible (with every lie) that any substantial RV will happen.

could be what they needed and wanted to scare off people from buying dinar they cant let too many people benefit now can they? good ole government has got to keep the people poor

[keepmwlknfny]

Only someone with a nefarious agenda would try to propagate a lie that these so-called gurus could be brought up on charges for living in their own fantasy world. While all our other freedoms are being taken away, by liberal terorism, the freedom of speech is the one freedom left alone by liberals to continue their own agenda. If someone listened to these so-called gurus and bought dinar, they are responsible for their own foolish acts. Futhermore, the fact you state the US Treasury owned a LITTLE dinar, leads one to believe, like all extremely wealthy people, their understating their assets. "I have a way to pay for this war, and it wont cost american taxpayers one dime." George W. Bush. You can deny it all you want but I saw him make that statement.

If he was really quoted in saying that, it wouldnt be hard to find.....people have looked for this so called statement for years and no one can find it....

The closest thing to that statement was made by his administration, and they were referring to using Iraqs resources (oil) to cover reconstruction costs. In other words, the DFI.....

[Rayzur]

If he was really quoted in saying that, it wouldnt be hard to find.....people have looked for this so called statement for years and no one can find it....

The closest thing to that statement was made by his administration, and they were referring to using Iraqs resources (oil) to cover reconstruction costs. In other words, the DFI.....

Yup., that's pretty much all you'll find. Apart from that, suppose someone did find the actual quote attributed to him? Its not like it's law, or something anyone can quote which in turn would compel a high exchange rate or the RV.... Or an RV as the one and only consequence of this statement. This one for me, has always seemed too far down in the weeds to have any real consequence impacting the reality of the dinar ride?.

[keepmwlknfny]

Yup., that's pretty much all you'll find. Apart from that, suppose someone did find the actual quote attributed to him? Its not like it's law, or something anyone can quote which in turn would compel a high exchange rate or the RV.... Or an RV as the one and only consequence of this statement. This one for me, has always seemed too far down in the weeds to have any real consequence impacting the reality of the dinar ride?.

I agree completely.....

I had a feeling this would come around full force since they invaded the BH groups offices awhile back.....

You can bet there are govt agencies watching these forums.....but they arent here to dissuade people from buying dinar....they could care less.....

They are watching for fraudulent activities....

[Rayzur]

I agree completely.....

I had a feeling this would come around full force since they invaded the BH groups offices awhile back.....

You can bet there are govt agencies watching these forums.....but they arent here to dissuade people from buying dinar....they could care less.....

They are watching for fraudulent activities....

That would be another yup my friend ..... Agreeing all the way with you. I'm not sure there were many pings on the radar until early 2011. Now there are devoted crews and the radar screen basically looks like a Christmas tree (analogy, not literal folks). And at this point, there are no take backs for anyone so inclined. The level of sophistication has grown exponentially since the dinar forums were born. Like my mom says, if you can't say something nice, don't say it all.

[DayGee]

This has nothing to do with the legitimacy of the dinar. What it does have to do with three guys accused of wire fraud, attempting wire fraud, money laundering, and the list goes on.

Have you read all 37 pages of the indictment?

[DayGee]

My favorite part of the indictment so far:

2011, RUDOLPH (this person was banned and is an off limits topic. traveled to Orlando, Florida and purchased a 2008 Hyundai Santa Fe for $18,785.00 for which he paid in currency.

This guy is (probably) going to be doing hard time for ripping people off with this hedge fund nonsense and he can't do any better than a 3 year old Hyundai? Come on!

[Doctor Smith]

I'm curious as to your thoughts as to what aspects you believe to be a witch hunt. Not that I disagree, just wondering what components you believe to be witch hunting? Love your thoughts about limiting the investor pool.... that would be a pretty sweet kick

They don't have enough jail space to keep the violent criminals in jail. Yet they have all the resources in the world to lock up forever, those that aren't aware of all the legal hoops to hop through. The laws are written in such a confusing boring way that they can be interpreted in anyway desired.

And then everyone hops on the "kick them when they're down" bandwagon. Kill Kill Crucify!

[InItSince05]

Rayzur has a good thread going on this with the indictment posted, Adam. What are your thoughts on the US Attorney's Office's contentions?

From Rayzur's thread:

US Treasury has very little dinar in reserves (only enough to cover some basic expenses)

The US Executive Order protects DFI stuff and NOT our right to invest

The Dinar will RD after which is will likely be exchanged at the rate of 1:17

Read more: http://dinarvets.com/forums/index.php?/topic/129295-read-this-us-govt-stated-facts-on-dinar-rd-then-117-exchange/#ixzz277ctVPiV

Huber and RC used their real names. I've been wondering if one of the other guys might be Breitling.

I was wondering the same thing!!

[skitealwedrop]

This has nothing to do with the legitimacy of the dinar. What it does have to do with three guys accused of wire fraud, attempting wire fraud, money laundering, and the list goes on.

I agree with you Zig. The defendants mentioned in the above post have nothing to do with my investment.

[Doctor Smith]

Here's a sample of the types of real criminals those clowns will never go after.

http://blog.alexanderhiggins.com/2012/09/19/rats-fed-corn-sold-walmart-grow-massive-tumors-187161/

[Rayzur]

Here's a sample of the types of real criminals those clowns will never go after.

http://blog.alexanderhiggins.com/2012/09/19/rats-fed-corn-sold-walmart-grow-massive-tumors-187161/

You got that right... The whole GMO thing was doomed to fail, and it right on target going down in flames.... Law of unintended consequences rules the baboons who lacked the forsight to anticipate the predictable outcomes.

And if it makes you feel any better, the 3 Muskgurus, are home tucked in for the night.... one on bail and the rest on OR it appears. Though the disposition of one of them seems strangely absent in details reported.... That in itself is a bit odd... But I digress...

I'm going to guess that most of the allegations will be pled out or at least down, with only one of the 4 facing any real time.

Surely someone in Las Vegas is taking bets on this one?

[Doctor Smith]

I just can't believe they found so many suckers to invest in the Hedge Fund? At $750 a pop that's about 32 people. That would trust their money to a fantasy pipe dream. I'm sure they will quickly be good for the money and refund it back. They will have to pay the money back and cover the expenses of the prosecutors.

And the Dinar they sold? Did they make millions of Dollars profit? or is that a Dinar value? Or is it this the total value of Dinar sold in Dollars or Dinar? I don't think they made multiple millions selling Dinar. Dinar selling is legal anyway.

I've always thought the sure way to make money on this investment was to become a currency dealer.

Edited September 23, 2012 by Doctor Smith

[Adam Montana]

....

And the Dinar they sold? Did they make millions of Dollars profit? or is that a Dinar value? Or is it this the total value of Dinar sold in Dollars or Dinar? I don't think they made multiple millions selling Dinar. Dinar selling is legal anyway.

.....

I've been looking for the answer to that one as well - the news stories keep saying "24 million", which I am guessing is gross sales. If they provided 24 million USD worth of dinar to these customers, then the number that the BH group actually benefited is far less.

Regardless of how much dinar they sold or how much they made or didn't make, I really think this comes down to the Hedge Fund. When I took the Series 65, my initial intention was to form a Hedge Fund (a REAL one, of course! ) but after a few talks with my local Attorney General and a retired Attorney General that puts these things (hedge funds) together, I realized it could be years before it was approved and would cost hundreds of thousands of dollars to even get to that point. At that time I decided to use my Series 65 to allow me to pursue more reasonable goals, such as preparing for Post RV investments. (I have to have the license to legally present my investment opportunities to my VIP members, so I am still happy I took the time to prepare in that manner.*)

Right around this same time is when Rudy showed up on the forums. In the beginning he was clearly testing the waters, then suddenly started talking about his secret contacts, then came up with his VP at Chase line, at which point I banned him from the site here because it was obvious to me that he was up to no good. Shortly after that he appeared on other sites and his stories were even more trumped up - suddenly he was a foreign currency expert, etc etc... I got a good kick out of some of the stuff he was spewing, but still told everyone to put him in the same category as okie and all the other "RV on Tuesday!" clowns.

Well, what do you know! 6 months later he suddenly has skirted all the normal time restrictions and suddenly has a hedge fund? I knew immediately that it was bull and advised everyone to stay clear of it. There was simply no way they could have put a legitimate hedge fund together that quickly, which obviously meant it was a scam.

So here we are today, with half the dinar world wondering if this whole thing is a scam.

I actually addressed this on my blog some time ago - the Dinar is NOT a scam. It's also not illegal to own it, buy it, sell it, trade it, or wallpaper your house with it.

I know there are some other sites out there that obsess on the legality of this currency, the people who sell it, anyone who has a place in the dinar world, etc. Right now they are all howling and chirping like a pack of hyenas, hoping that everyone involved in Dinar will be doing the "perp walk" soon... . It's actually amusing to watch, like a soap opera.

For anyone who might be wondering about the legality of our VIP group or any of the things we discuss here - don't worry about it at all. The hyenas will howl, vultures will circle, and lopsters will continue to holler, but that doesn't change a thing. The Dinar is still legal, anyone holding it has nothing to worry about, VIP isn't going anywhere, and neither is this site. (Unfortunately DinarVets has been under a DDOS attack this last week, but it's completely unrelated to any of this BH Group stuff. My apologies to everyone that couldn't access the site at times this week.)

After giving this a bit of thought, my opinions on the indictments are twofold.

First, I think it's everyone's personal responsibility to research any "investment" before buying into a sales pitch. If the people who bought Dinar actually received it, then they got what they paid for. (If I call a hotline to talk to a sexy woman, I really doubt I'm going to talk to the girl I saw on the TV ad! And when I buy new Nikes, I don't expect them to instantly make me an Olympic athlete.)

However, the hedge fund deal is a completely different story. I don't believe there was ever a hedge fund, which means people were completely and blatantly defrauded. The BH Group deserves punishment for that, and I hope those people get their $750 back. The fact that they made up stuff (Overseas Investment Protection... what?! )... that's just plain wrong.

Despite the fact that the BH Group and several other clowns out there continue to make a mockery of what many of us consider a great opportunity, I believe it remains just that - a great opportunity. If you are invested in the Dinar because you believe it to have future potential, I don't see any reason to change your mind about it based on the actions of these people.

I think at the end of the day, it all just goes to show that you have to be careful where you place your trust. I can't guarantee an RV of any kind, but I do guarantee that as a part of my VIP group you won't be fed bull - and I have many many VIPs who will back me up on that.

*P.S. Although I took the Series 65 and am qualified to act as an Investment Adviser, at this time I am not acting as one - I am only expressing my opinions. After the RV that will be different, but I will have to sit down with the VIP members on an individual basis as the law requires. As a VIP member, you support the site and have access to more of my opinions and personal assistance in quite a few things, such as Asset Protection and more. I do not nor will I ever ask you to let me have any control or possession of your Dinar or any other funds you have - I simply open doors and provide education. If you haven't joined my VIP group yet, I encourage you to consider it!

[zigmeister]

If he was really quoted in saying that, it wouldnt be hard to find.....people have looked for this so called statement for years and no one can find it....

The closest thing to that statement was made by his administration, and they were referring to using Iraqs resources (oil) to cover reconstruction costs. In other words, the DFI.....

I certainly have not found it, but it does not matter who said it, his administration did. In other words while they said Iraq would pay for its reconstruction via oil to the tax payer, us is saying without saying it, we the people would not have to pay. The Bush administration after these statements did a 1-80 and tried to PR their way out of the statements.

The DFI fund is a mystery, it has been audited more than once, the complaint by congress is there is very little transparency, and they would like to know just what is in it and how it has been used.

[Doctor Smith]

people need to understand these guys have been under investigation for a while now this is NOT new. We shall see now which charges stick for Rudy and Brad and it seems the others got off already.

could be what they needed and wanted to scare off people from buying dinar they cant let too many people benefit now can they? good ole government has got to keep the people poor

That's why I halfway believe this will never happen. Have you ever heard of any government doing anything for anyone but themselves? They're sap suckers. Governments rarely RV their currency. They inflate it. You get less and less for the money you agree to work for. They illegally import desperate immigrants to drive labor costs down and look the other way. They outsource to other countries to take advantage of slave labor.

Time to get off my soap box.

[slb]

I just can't believe they found so many suckers to invest in the Hedge Fund? At $750 a pop that's about 32 people. That would trust their money to a fantasy pipe dream. I'm sure they will quickly be good for the money and refund it back. They will have to pay the money back and cover the expenses of the prosecutors.

And the Dinar they sold? Did they make millions of Dollars profit? or is that a Dinar value? Or is it this the total value of Dinar sold in Dollars or Dinar? I don't think they made multiple millions selling Dinar. Dinar selling is legal anyway.

I've always thought the sure way to make money on this investment was to become a currency dealer.

I listened to a few of their conference calls. Never bought anything thankfully . Always seemed like they were pushing sales of dinar and their crazy zango juice, Anyway ,one thing they said more than once was because their members were 4T dinars strong they would be able to get a better cash out rate with the banks. If true, you do the math.

[Doctor Smith]

I've been looking for the answer to that one as well - the news stories keep saying "24 million", which I am guessing is gross sales. If they provided 24 million USD worth of dinar to these customers, then the number that the another site actually benefited is far less.

Read more: http://dinarvets.com/forums/index.php?/topic/129300-bh-group-indicted/page__st__100#ixzz27Jf7SPCT

Even 24 million Dollars seems high. That would be 24,000 customers at 1 million Dinar each. I should start selling Dinar! By the time it RV's or Lops I might be a millionaire!

You probably have to grease the legal machine so much that you would have to make millions to break even.

[MyLadiesDaddy]

Oh, I'm not disagreeing with you. I put as much faith in "secret intel" as I do "Hope and Change". My opinion is that neither the government nor the gurus are of much value to us. When the dinar goes up and we can cash in, great! If it goes down and we move on - well, we always knew it was a possibility.

That statement should have got you 40,000 pluses.