15 June AtoZForex — Previously AtoZ Forex reported the latest news about the investigation into IM Forex case when the Chilean authorities charged the company with fraud. The recent development in the case states that authorities have changed the course of their accusation towards violations related to AML regulations. More specifically IM Forex charged with money laundering this time.
IM Forex charged with money laundering: what about Ponzi scheme?
IM Forex is Chili-based money managing company, which provides services on beneficial financial opportunities. The broker has a professional team of traders, who bring substantial income by trading various financial instruments.
According to the lawyers of the company, the office of the district attorney is looking for new “non-existent” charges against IM Forex, as it already cannot proceed with Ponzi scheme fraud accusations.
The company was previously investigated by the authorities for violating the general banking law. However, the prosecution came up with new charges related to money laundering. IM Forex is accused of having this activity the main source of income for IM Forex. Whereas the defendants claim that this move was motivated by the lack of proof for previous charges.
Frozen assets
Chilean authorities have previously frozen company’s assets, despite IM Forex claiming that those $1.8 million were aimed to refund existing customers. The brokerage filed a request asking for a preliminary hearing on this topic. The company wants to know why the authorities are confronting to release the assets to be distributed amongst clients, as Police is investigating the case for four months already.
According to the IM Forex statement, the team of lawyers has started the process of recovering the frozen assets, while building a case to demonstrate legitimate operations of the company.
IM Forex hires a team of lawyers
The company has recently hired more lawyers. The team of legal defendants is headed by Matías Balmaceda, who is experienced in such cases. Mr. Balmaceda has already won the case against José Antonio Villalobos, the main accuser of IM Forex. The company has also hired Iván Millá, former fiscal authorities official.
Victim of special interest?
The defense is building a case around the stance that IM Forex has become a victim of some special interests of big financial groups. They claim that those figures are already part of the money management services market. Moreover, allegedly, the companies have successfully used the local media for their benefit in this case.
“As the continuous introduction of new complaints in the case unfolds, the odds of a fair trial for our clients is diminishing because they are unable to repay clients due to the obstructions placed by the attorney’s office,” - added Omar Carrasco, the member of the team of lawyers, defending the IM Forex.
IM Forex repeatedly stated its intention to repay the customers the full value of their investments into the company.
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