Information Concerning Sterling Currency Group, LLC Actions

Civil Forfeiture Actions

The United States Attorney’s Office 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).

The United States, Frank Bell, James Shaw, and Tyson Rhame reached settlement agreements in both of the civil forfeiture actions. The district court has entered final orders of forfeiture in both cases, which forfeited some of the property to the United States.

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. The United States is developing a process for filing and evaluating petitions for remission related to these civil forfeiture actions, and additional information will be provided as soon as possible. Please do not submit petitions for remission until updated information is released. At that time, you will be given specific information regarding the exact procedure for the submission of petitions for remission.

You may visit https://www.justice.gov/criminal-mlars/victims to learn more about the petition for remission process.

We ask that you visit this website periodically for updates on these proceedings. 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

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.

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.

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.

Information will be updated on the publicly available docket reports for the civil forfeiture actions and the criminal case.

Resources

Information on Victim Witness Program

Information and Assistance for Federal Crime Victims and Witnesses

Crime Victims' Rights Under the Justice for All Act (18 United States Code § 3771)

Victim Rights Under Title 42 United States (Code § 10606(b))

Victim / Witness & Criminal Justice System Information

Victim / Witness Home Page

Contact Information