“In addition to the four defendants, the lawsuit specifically names Energy Savers Advisors LLC, which does business as the BH Group; Bayshore Capital Investments LLC of Jacksonville;
Treasury Vault LLC of Draper, Utah; and Dinar Trade Inc., of Las Vegas...
...According to the indictment, the men fraudulently marketed and sold dinars, the currency of Iraq, causing investors of the BH Group to lose nearly $23.8 million. They also are accused of selling more than $700,000 in nonexistent hedge-fund assets.
The sale of Iraqi dinar is not illegal. But the indictment said that beginning in August, 2010, the defendants falsely told investors and promoted through the Internet, email, and weekly telephone conferences that buying the dinar involved minimal risks because the currency was protected and regulated by the "Overseas Investment Protection Act and a presidential executive order, guaranteeing 90 percent reimbursement," among other misrepresentations.
http://www.toledoblade.com/local/20...dicted-sellers-firms.html#k6CckvFWfyb4AzLc.99
