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Chilean authorities have frozen the assets of Santiago based brokerage IM Forex despite the company loudly protesting in a press release and claiming the money was to be used to repay clients. With the allegations against the brokerage surfacing some months ago, a group of clients has been actively looking for ways to recover deposits at the brokerage.
After Finance Magnates reported about IM Forex and its alleged connections to a massive $75 million Ponzi scheme in March, the developments for the brokerage have not been very favorable. Police reports at the time suggested that the Ponzi ... (read more)