Hey everyone, quick update and a request. If you’ve been watching the Iraqi Dinar for any length of time, you’ll know that we do not have any guarantees on the speculation of it’s value, and anyone who promises you they have “inside information” is full of camel bull. Although we remain optimistic in Iraq’s future and the potential for financial gains as a result of their success, DinarSpeculation.com will never release false news or make idle promises. Unfortunately, some people out there are not so honorable.
Case in point, Jack Lee Smiley of Idaho has had $1 million dollars worth of Iraqi Dinar confiscated as a result of his business practices. Apparently he was running a sort of Ponzi scheme, using other people’s money to purchase Dinars and promising a huge return on the investment. Jack Smiley was ordered to pay $140,000 in fines and a judgment against him was found in the amount of $1,195,000 in favor of the investors.
Securities fraud, my friends, is nothing to joke about. The state is expected to use the confiscated Iraqi Dinar to repay the people he defrauded. Jack Smiley is expected to be released on Thursday.
More to come, use the comments section to respond!
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3 responses to "Idaho Dinar Dealer busted."
I saw the story here, too: http://dinarspeculation.com/2009/07/01/idaho-dinar-dealer-busted/
Looking for more details, though.
Sounds like Jack Smilwy was quite the “pumper”!
Hmmmm…..my hubby and I were approached by a very charming gentleman here in Laguna Beach/Newport Beach area stating that we could make a lot of money if we invested in Dinar. He said many of his friends have given him cash to invest in it. Of course, we are very leary and this is why I am on the internet. This gentleman’s card says that he is from Idaho. Hmmmm.
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