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The state of Colorado and former Denver hedge- fund manager Sean Mueller agreed Thursday to freeze his assets indefinitely while legal cases are pursued against him.

A temporary injunction had been in place since the state sued Mueller last month, accusing him of fraud in an alleged Ponzi scheme involving more than 30 investors and as much as $122 million. Mueller ran Mueller Capital Management, which oversaw the Mueller Over-Under Fund.

A Denver district judge approved the agreement Thursday. The Denver district attorney’s office has launched a criminal investigation into the case.

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