Sterling Currency Action

Information Concerning Sterling Currency Group, LLC Actions

The United States Attorney’s Office has filed two separate forfeiture actions related to Sterling Currency Group, LLC and investments in foreign currency: United States v. Real Property Located at 225 Valley Road, N.W., et. al. (Civil Action Number 1:15-CV-2032) and United States v. Approximately 8,671,456,050 in Iraqi Dinars, et. al. (Civil Action Number 1:15-CV-2677).

Additionally, there is a related criminal matter: United States v. Rhame, et al., Criminal Action No. 1:16-CR-067. Information will be updated on the publicly available docket reports for these actions.

There were no allegations in the Superseding Indictment that Sterling Currency Group sold counterfeit dinar. Furthermore, the defendants were not convicted of selling counterfeit dinar.

Please be informed that under the regulations found at 28 C.F.R. Part 9, victims of an offense who have suffered a pecuniary loss of a specific amount, as demonstrated by documentary evidence, may seek remission or mitigation of forfeiture. If the government prevails in the civil forfeiture actions, it will distribute information regarding the petition for remission process, and individuals will be given an opportunity to file petitions for remission. You may visit https://www.justice.gov/criminal-mlars/victims to learn more about the petition for remission process. Although there is no required legal form or format for filing a petition for remission, the website provides a sample petition that victims may use as a guide. If you have already submitted a petition for remission, there is no need to submit the petition again.

The two civil forfeiture actions are pending, and a trial date is not scheduled for these actions. The process of reviewing and evaluating petitions for remission cannot begin until an order of forfeiture is entered against assets identified in the civil forfeiture actions.

We ask that you visit this website periodically for updates on these proceedings. Unfortunately, the United States Attorney’s Office is prohibited by law from providing legal advice related to these cases. Individuals who believe they have been impacted by these proceedings may choose to seek assistance from a lawyer who will be able to explain the forfeiture process.

Criminal Case Updates

United States v. Tyson Rhame, et. al., 1:16-CR-67-SCJ-CMS

On October 9, 2018, the defendants TYSON RHAME, JAMES SHAW, and FRANK BELL were convicted of conspiracy to commit mail and wire fraud, mail fraud, and wire fraud. The defendants RHAME and BELL were also convicted of making false statements to federal agents. The defendants were acquitted of money laundering charges.

Sentencing

On December 10, 2021, the Court imposed the following custodial sentences for the three convicted defendants:

TYSON RHAME was sentenced to 15 years of incarceration;
JAMES SHAW was sentenced to 7 years, 11 months of incarceration; and
FRANK BELL was sentenced to 7 years of incarceration.

On August 9, 2022, the Court ordered the three defendants to pay restitution in the amount of $1,682,319, jointly and severally. Restitution was awarded to individual victims, and the United States Attorney’s Office will directly notify these victims via the Victim Notification System. The Judgment and Commitment Orders for each defendant can be found below. All three defendants have filed notices of appeal of their convictions and sentences. The appeals are pending before the Eleventh Circuit Court of Appeals.