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Investors Iraq News
05-25-2014, 04:00 PM
In fraud scheme, Dinar experts faced lengthy prison

Federal prosecutors say they will seek substantial prison terms for two local businessmen found guilty Thursday of swindling investors out of millions of dollars through the sale of Iraqi currency and two nonexistent hedge funds.

Source: IraqDirectory.com (http://www.iraqdirectory.com/en/2014/05/25/27205/in-fraud-scheme-dinar-experts-faced-lengthy-prison.aspx)

Post your commentary below.

Screaming Eagle
05-25-2014, 04:40 PM
In fraud scheme, Dinar experts faced lengthy prison

Federal prosecutors say they will seek substantial prison terms for two local businessmen found guilty Thursday of swindling investors out of millions of dollars through the sale of Iraqi currency and two nonexistent hedge funds.

Source: IraqDirectory.com (http://www.iraqdirectory.com/en/2014/05/25/27205/in-fraud-scheme-dinar-experts-faced-lengthy-prison.aspx)

Post your commentary below.This is one of the accusations that convicted them!! "Emmenecker told the jury he moderated weekly conference calls for BH Group in which Huebner, Coenen, and other dinar “experts” promoted investing in the currency under the premise that one day soon the Iraqi government would revalue its currency, making any investor wealthy overnight" They might get a few more soon!!!

Will-it-happen?
05-25-2014, 07:57 PM
so, these dudes actually stole the dinar ? or invested it using Warka bank ?

Screaming Eagle
05-26-2014, 12:08 PM
so, these dudes actually stole the dinar ? or invested it using Warka bank ?No they sold dinar on the premise that it would RV soon and make investors rich. They hyped a dinar RV hoax.

HumbleGenius
05-26-2014, 12:37 PM
......... They might get a few more soon!!!

Hope you are right.!!

mike032588
05-26-2014, 06:07 PM
Hope you are right.!!


no trust me its way worse that that... i told all of them including choen what i thought... i called him.. he was trying to get me to send him 800 for a spot in his hedge fund that would launch when iraq revalued... i cursed him out... called him a scam artist and told him he was going down... warka bank is a legit investment.... has nothing to do with this... he had 2 fake funds and he was "selling spots" its was a complete fraud and im happy they got caught... Ali as well... hes got shut down as well... but he had way more money from the business of selling dinar to fight it... so we shall see....

BatmaninIraq
05-27-2014, 03:21 AM
Why they're still selling here at UAE? IRAQI DINARS and always OUT OF STOCK.... but if you ordered they will give a day for pick up.....

ChinaGirl
05-27-2014, 12:57 PM
I think this has more to do with the "two nonexistent hedge funds" - the whole process had to be registered properly - the dinar was a lure into a non-existent hedge fund - anyone can sell IQD (they have and still do) you just can't attach "non-registered" investment schemes to it - that was their downfall.

Screaming Eagle
05-27-2014, 02:11 PM
http://www.forbes.com/sites/jayadkisson/2012/07/30/you-cant-fix-stupid-the-iraqi-dinar-scam-lives/

You can't fix stupid. the dinar scam lives.

Will-it-happen?
05-27-2014, 04:29 PM
http://www.forbes.com/sites/jayadkisson/2012/07/30/you-cant-fix-stupid-the-iraqi-dinar-scam-lives/

You can't fix stupid. the dinar scam lives.


but what about investing in the isx ( that requires dinar) is that stupid too ?

Screaming Eagle
05-27-2014, 06:42 PM
but what about investing in the isx ( that requires dinar) is that stupid too ?Depends on the investor and their experience. If you are not use to slow transfers and illiquid markets where a trade or sell might take months best keep your money home. There are at least 20 companies in the world that have gross revenues that are as large as Iraq's GDP. Iraq has GDP growth of ~ 8% which is a indication of how fast your stocks might growth. The ISX is projected to 200% however much of that is because of newly listed companies and growing investment and is not a indication of individual stocks.