Chile Financial Market Commission files fraud complaints against three unregistered mortgage loan advisory entities

The Chile Financial Market Commission has filed complaints with the Public Prosecutor's Office for alleged fraud against those responsible for three entities that allegedly offered advisory and processing services for mortgage loans from CMF-supervised institutions, collected advance payments, and then failed to deliver the promised service or refund the money. The release also warns the public about scams involving purported mortgage loan advisory services. The action follows complaints received and information gathered by the CMF's Investigation Unit. The entities named are Wolv Brokers, or Wolv Inmobiliaria, which operates through the wolvbroker dot cl website, Asesoría Estratégica Inmobiliaria SPA, and MAX Millón SPA. According to the CMF, these firms claimed to be supervised by the regulator but are neither registered with nor authorized by it. The CMF also pointed users to its fraud alerts page, which allows investors, policyholders and banking customers to check whether a person or entity is supervised and to review alerts on unregulated entities or activities.