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Screenshot of a breaking news alert e-mail from Q2 2017
Chilean FX broker IM Forex has been shut down and its website (www.imforex.cl/) taken down amid a police investigation into the activities of the Forex firm.
Before the website of the company went inactive, the broker had posted a brief announcement (which you can view below) saying it is co-operating with investigators.
According to a report by Bloomberg, clients of IM Forex filed a lawsuit for fraud against the broker on Monday, with an official at the communications department for the prosecutor’s office confirming to Bloomberg the lawsuit had been received. The company is said to have around 1,500 clients.
While active, IM Forex offered customers a return of 6% per month if they invested at least 10 million pesos (around $15,000) and did not withdraw the money for at least one full year.
Below is the announcement from IM Forex (Translation is credited to Google Translate):
Santiago, March 4, 2016. Our company IMFOREX informs its customers and the general public that on the day of Thursday 3 March 2016, in an effort to clean up our image which has been muddied by facts widely publicized in news of national press and television, we have opened our office for Attorney Prosecution Authorities in charge of the investigation to access privileged, sensitive and confidential information of our operations. We have cooperated extensively with the diligence that was conducted by Police of Chile Investigations, providing basic, concrete, and solid evidence against speculatively fraudulent charges which distort history with an astonishing levity and have questioned the veracity of our commercial operations.
We expressly mention that we have requested that the confidentiality of all information is maintained.
Finally, IMFOREX is deeply grateful for the show of respect, support and affection personally delivered by email and phone by our customers.
VICTOR T. PANTOJA