iX Global @ BehindMLM

Following the collapse of its short-lived IN8 NFT Ponzi scheme, iX Global has tripled down on securities fraud with CloudX. In a nutshell, iX Global’s CloudX is a variation of the “node positions” model, except blockchain has been swapped out for web hosting.

A May 1st report from India’s Directorate of Enforcement has provided insight into the ongoing fraud investigation into iX Global and CEO Joseph Martinez.

Following a motion from the SEC, its $49 million securities fraud case against iX Global and Debt Box has been voluntarily dismissed. The court ordered the dismissal on May 28th, also ordering the SEC to pay costs.

Debt Box promoter Ryan Bowen has been voluntarily dismissed from the SEC’s case. A stipulation filing also provides clarity on how the SEC intends to handle the case going forward.

iX Global’s IN8 NFT grift, purportedly running on Debt Box’s technology, has collapsed. As per a March 27th message to investors on IN8’s website;

A court has found the SEC getting some dates wrong in its Debt Box case constitutes bad faith. Financial sanctions have been imposed and the SEC’s request to dismiss the case for refiling has been denied.

Between the SEC suing it for securities fraud and Indian authorities arresting money launderers, iX Global’s original forex and crypto mining ruses are dead. In an effort to continue violating US federal securities law, iX Global has announced a new NFT “rewards” grift.

In light of date errors made in presenting its case, the SEC has opted to voluntarily dismiss securities fraud proceedings against iX Global and Debt Box. The revelation was made in a January 30th surreply filing, made in response to why the SEC shouldn’t be sanctioned.

Following executed search warrants on January 11th, Indian authorities have frozen Rs. 6.4 million (~$77,000 USD). In a January 12th press-release, the Enforcement Directorate revealed the funds were tied to iX Global and TP Global FX.

Seems iX Global top earner Viraj Patil didn’t fancy spending Christmas and New Year’s in Dubai. Viraj, a wanted fugitive, was arrested after his flight from Dubai landed at Chhatrapati Shivaji Maharaj International Airport on Sunday night.