And The Iron Man 3 Villain Is...

...THE MANDARIN!

(edit)

And he's being portrayed by Ben Kingsley.

ComicBook.com had the following to say after filming wrapped up in North Carolina this week:

Iron Man 3 filmed a scene at the Cape Fear Club in downtown Wilmington, North Carolina earlier today. The film’s security had things pretty well barricaded up so it was impossible to get any photos of the filming inside. Those that did get a glimpse inside reported seeing extras dressed in military uniforms and suits. The extras in suits were described as looking like Secret Service men. 

While talking to some Wilmington locals, we had one source involved with the production tell us that Mandarin was definitely the villain. He said Mandarin had a set of twins that did most of his dirty work for him. Another source who had visited EUE/Screen Gems Studios told us that the sets they were building included Chinese storefronts. 

Probably, the biggest piece of information we learned, which we reported earlier is that part of the story for Iron Man 3 will be set in Miami, Florida. A source close to the production revealed that he had seen vehicles emblazoned with logos for the city of Miami and Miami Police Department being unloaded on one of the sets.

So there you have it! And it should tie the story back to the first film since Mandarin has the ten rings, or at least may be seeking them out.