Greed, money, future wealth, I am sure all played a part as to why Lonnie Ray Richards chose to deceive the thousands of people that followed his advice as they lost there homes, cars, jobs and faith in the American dream. All along as Lonnie Ray Richards was receiving cash payments from Ali Agha of Dinar Trade, Inc._www.dinartrade.com to create stories and fake intelligence (intel) to drive Iraqi dinar sales through the roof for Dinar Trade Inc. a currency trader registered with the US. Treasury’s Office which primarily sells New Iraqi Dinar (NID).
What is worse is Lonnie Ray Richards’s real profession. According to internet records, Mr. Richards is not in Oklahoma as he stated, but Celina, Texas. His Blog states he’s a retired Chief of Police and Magistrate Judge! He portrayed himself as an oil man with high up contacts throughout the world, which seems now to be all in his imagination.
The big hoax started a few years back when Mr. Richards joined a website titled Neosplace (http://www.nenosplace.com/). A site that tracks and discusses speculation on the Iraqi Dinar. Mr. Richards apparently saw an opportunity to create false information to appease the members using fancy slang words like "nuff said" , "make your plans" or "now it is clear" along with his extreme exchange rate predictions all for financial gain.
Ali Agha appears to also have preliminarily hired Mr. Richards to operate one of his future retail "service" locations as stated in recorded conversation and Internet postings. Mr. Richards boast that "the real money is after the Iraqi Dinar revalues" to several of his "wingman" he brings along for the ride at his current website http://www.okieoilman.net/
Under the current economic conditions with many unemployed, they are turning to various ways to look for light at the end of the tunnel. From lost jobs, lost homes, many are seeking advice and the Okie Oil Man hoax seemed like an easy play. While many are losing everything, Mr. Richards was making a financial killing and setting up his future retirement.
Legally, Mr. Richards could be in some serious hot water in weeks to come as the investigation continues which is sure to go on a to a federal level.
As one follower said, "I am saddened today to find out that all of this information provided by Okie was fake. He should go to jail for hurting so many in need. All for his personal greed. God will take care of him."
Federal investigators have received this information. As this scam artist is brought to justice, we will post a follow-up article. His future may now be a 6’x6’prison cell. In the meantime, here are links to Mr. Richards Blog and Resume.
Roger Benson – AP News
The link above is Lonnie Richard's property in Celina, TX on 3 acres; home is probably about 2000 sf, but I'm guessing.