Posted: April 19, 2013 - 10:38am
By Dana Treen
A Jacksonville man pleaded guilty Thursday in an Ohio federal court to a scheme to defraud investors in the sale of Iraqi dinar currency and two non-existent hedge funds, authorities said.
Rudolph M. Coenen, 47, pleaded to one count of conspiracy to commit wire fraud, one count of wire fraud and five counts of money laundering. His sentencing is scheduled for Aug. 12.
Coenen and three other men promoted Iraqi dinar as having the potential to rocket in value once a reevaluation of the currency took place. They said the investments were protected by the U.S. government.
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