4 charged in Iraqi Money Scheme

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4 charged in Iraqi Money Scheme  Empty 4 charged in Iraqi Money Scheme

Post by J&D on Fri Sep 21, 2012 4:42 pm

TOLEDO, Ohio (AP) - Federal authorities have charged three Ohio men and a Florida man in a multi-million-dollar scheme involving the sale of Iraqi currency and two non-existent hedge funds.

The U.S. attorney's office says the alleged scheme began in 2010 and cost investors $24 million. Those charged include 65-year-old Bradford Huebner of Ottawa Hills, 65-year-old Charles Emmenecker of Sylvania, and 66-year-old Michael Teadt of Maumee in Ohio. Forty-7-year-old Rudolph Coenen of Jacksonville, Fla., also is charged.

Each is charged with conspiracy to commit wire fraud and wire fraud, and some also face counts including money laundering.

The 83-count indictment in federal court in Toledo was unsealed Thursday. Court records did not list attorneys for the men.

The (Toledo) Blade reports that Huebner attorney Richard Kerger says his client's business was lawful.

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