Posted on: 9:38 am, March 10, 2014, by Michelle Stark, updated on: 10:36am, March 11, 2014
(WHNT) – It sounds so easy. Invest in Iraq’s currency – called the dinar – and you could become fabulously wealthy.
Tennessee Valley residents, along with many more across the country, are buying in. So, is it a smart move? Or a scam? WHNT News 19 is Taking Action to find out.
Tim Jones, an Albertville resident, tells WHNT News 19 he was thinking of his children and his family’s financial future, when he used $1,000 U.S. dollars to buy 750,000 Iraqi dinar.
The pitch was pretty compelling. Jones was told that one day soon, Iraq’s currency would rise sharply in value against the U.S. dollar, creating a huge financial windfall for him.
Years later that “revaluation” still hasn’t happened, leaving Tim to wonder if he made the wrong choice, along with many others he knows who bought in.
To find the truth, WHNT News 19 turned to the web – where there are countless websites, blogs and forums devoted to speculation about the dinar “revaluation” or “RV” for short – as well as the Better Business Bureau, state regulators and financial experts.
Are the claims of a big payoff for dinar investors legit?
To see what we found, watch WHNT News 19′s Taking Action Investigation “The Iraqi Dinar” airing Tuesday, March 11th at 10:00 p.m.