AP NEWS

3 Georgia men who ran currency exchange convicted of fraud

October 10, 2018

ATLANTA (AP) — Three Georgia men who ran a currency exchange business have been convicted of fraud.

The U.S. attorney’s office in Atlanta said in a news release Wednesday that Tyson Rhame and James Shaw of Atlanta and Frank Bell of Decatur were convicted of charges including mail and wire fraud.

Rhame and Shaw owned and operated Sterling Currency group, which prosecutors say was once one of the largest U.S. sellers of the Iraqi dinar. Bell was chief operating officer.

Prosecutors say Sterling brought in more than $600 million from currency sales between 2010 and 2015, and Rhame and Shaw received more than $180 million in distributions.

Prosecutors say the men worked to convince investors they would get rich by investing in the dinar, including by spreading false information about the Iraqi currency.

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