After a call to B and B a solution was found. The problem was not in the code or the B and B hardware but was in the cabling. I was told by B and B tech support that if the loop back test worked then the likely problem was in the cable between the Instrument and the converter. In my application what was required was a null modem or cross over cable. Apparently the gyberish data that i was recieving is also an indicator of needing a different cable.
Dennis, sorry to have taken so much of your time and I greatly appreciate the help.