I've been brainstorming the issue and is it possible he's gone under the radar because he pumps dinars in Spanish and regulators are probably all English speakers? Here's a google translate of a news article on him.
http://translate.google.com/translate?s ... rl&act=url
It's not the $30 dollar RV rate but yeah he's been pumping dinars based on a future re-evaluation since the mid-2000's in Puerto Rico. I researched him back then, his business model was to basically sell the dinars at ~20% markup and, in case investors wanted the dinars back, bought them back significantly below market price."In Iraq Central Bank announced new steps aimed at increasing the value of the Iraqi dinar against the dollar (U.S.). Deputy Governor of the Central Bank of Iraq (BCI), Mr. Saleh said that once the situation is appropriate, the central bank will begin implementing a new strategic equation to match the dinar and the dollar, "Mendez said in a column published in the local weekly in English, Caribbean Business in June 2012.
http://translate.google.com/translate?s ... 50&act=url
Mind you that article is from 2008.Since then, Mendez said, has sold 5 billion dinars, which has given him nearly $ 5 million in sales. The Puerto Ricans pay $ 60 to change 50,000 dinars, said the businessman, who acquires the Iraqi money to $ 1.050 per million dinars. Yesterday I only made $ 60,000 in sales.
The current value of the dinar is less than a dime and do not accept the country banks, which confirmed Mendez. He said that before the war in Iraq, each dinar was worth nearly $ 3.
"Said by President Bush, he wants (the value of the dinar) back to where it was before," said Mendez.
He's done incredibly well for himself, ridiculously wealthy off the scam. Local radio show pumping dinars, favorable articles on him in the newspapers, hasn't been touched by authorities.