Serial communication characters problem

Hello,

I am trying to connect through serial (using TTL-232R-3V3-PCB serial-to-USB based on FTDI RS232 chip) to the Leopard Board 365 but the characters show in minicon are really ugly.

Here is an example when the board tries to connect to DHCP through Ethernet:

IP=Gonnig: Reopening networo devigew...
                                                                     Wending DHGP requewtw ...... ti}ed out!

I've tried to change any parameter such as baud rate, parity, etc. but it can be worse than here (115200 N81)

Thanks,

Mike