CdA man hasn’t turned in money

A Coeur d’Alene man who state officials say bilked more than 100 investors from as far away as Florida has yet to surrender the Iraqi currency he accumulated in the scheme.

Jack Lee Smiley allegedly committed securities and commodities fraud when he promised investors who put up money for conversion to Iraqi currency they’d get at least a 33-fold return.

First District Judge John T. Mitchell ordered Smiley to pay nearly $1.2 million in restitution to those whose money he took as well as a $140,000 penalty to the Idaho Department of Finance.

Mitchell’s order resulted from a lawsuit brought by the Finance Department. The state could still bring criminal charges against Smiley.

Mitchell also ordered Smiley to surrender the dinars to the state. Smiley has yet to turn over the money, said Jim Burns, investigations chief in the Finance Department. The state has filed a motion to hold Smiley in contempt of court and will seek sanctions to force him to surrender the dinars, the state said.