iX Global has collapsed.

On a “final global call” held on June 24th, founder Joe Martinez confirmed an ongoing SEC investigation into the company.

[1:38] Over the last year or so … we ran into some regulatory issues here in the US, where we’re headquartered.

Unfortunately those challenges, doesn’t matter that we got the case dismissed against us, those challenges have uh, given us … challenges that are inconceivable.

[2:19] We just got word this last week that the SEC is, as they said they would, reinvestigating the case against Debt Box.

The SEC
filed suit against Debt Box and iX Global
in August 2023. At the center of the suit was an alleged $49 million dollars in securities fraud.

Following fallout from
admin errors by SEC attorneys
, the case was
voluntarily dismissed
in May 2024. Attorneys tied to the errors left the SEC and a new group of attorneys are handling the case.

This brings us to Martinez’s response to renewed investigation into iX Global’s alleged securities fraud.

[2:40] Because of how much regulation and regulatory issues throughout the world have been challenging us, we’ve decided … that iX Global as of this week will cease operations.

ix Global affiliate investors have been advised they will be able to withdraw any wallet balances in their backoffice.

All systems will remain online for the next 30 days, with brand ambassadors able to login to their accounts, request payouts, and continue to operate in accordance to the company agreements and procedures through July 24th.

iX Global’s initial business model
hid purported automated forex trading returns behind an education platform. To defraud consumers out of millions, Martinez teamed up with Debt Box in the US and TP Global FX in India.

The Debt Box side of the scam came to an end after the SEC filed suit. iX Global and Debt Box doubled down on securities fraud with an
IN8 NFT grift
. That lasted a few months before
collapsing
.

IN8 Tech, an iX Global associated shell company owned by Martinez, would resurface as a service provider in
CloudX
.

Through CloudX, iX Global pitched investors on annual passive returns of up to $72,000 per $15,000 investment.

Evidently believing the SEC’s investigation won’t expand to IN8 NFTs and CloudX, Martinez advised;

[8:11] Anybody that is continuing to purchase any of our technology products, like CloudX or Nova, those products will stay online with the products provider of the technology companies.

So all of those things are staying in place but they were completely separate from iX Global.

This is of course baloney seeing as Martinez owns both iX Global and IN8. That CloudX investors had to be addressed on an iX Global say it all really.

The TP Global FX side of the scam collapsed following
the arrest of Viraj Patil in India
.

As part of an ongoing criminal investigation into TP Global FX and iX Global, Martinez himself is a
fugitive wanted by Indian authorities
.

Addressing iX Global’s Indian investors on the

🤖 Quick Answer

What led to iX Global's collapse?
iX Global collapsed following an ongoing SEC investigation into the company. Founder Joe Martinez announced the shutdown during a June 24th global call, citing regulatory challenges in the United States as the primary factor contributing to the company's inability to continue operations.

What was the SEC's original allegation against iX Global?
The SEC filed suit against iX Global and Debt Box in August 2023, alleging approximately $49 million in securities fraud. The case was voluntarily dismissed in May following administrative errors by SEC attorneys, but the agency announced plans to reinvestigate.

Why was the initial SEC case dismissed?
The initial SEC case against iX Global was voluntarily dismissed in May 2023 due to administrative errors committed by SEC attorneys during the litigation process, rather than a determination of innocence or lack of evidence.

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