An iX Global promoter has been arrested in Wardha, a city in the Indian state of Maharashtra.

Following an EOW Nagpur investigation, Preeti Nilesh Raut stands accused of stealing Rs. 25.9 million through iX Global (~$309,000 USD).

As
reported by Nagpur Today
on July 15th;

The [EOW] investigation … uncovered a scheme where Suraj Savarkar, associated with iX Global (iX Academy Private Limited), allegedly lured investors into online forex trading with promises of high returns ranging from 5% to 15%.

Funds were deposited into accounts linked to various traders, including those associated with Canara Bank in Kolkata.

However, investors reported not receiving the promised returns, prompting the investigation and subsequent arrests.

In addition to Raut’s arrest the Mumbai EOW has named several additional suspects;

Suraj Madhukarrao Savarkar from Wardha

Viraj Suhas Patil from Mumbai

Surendra Madhukarrao Savarkar from Wardha

Nilesh Nareshrao Raut from Wardha

Priyanka Khanna from Jalandhar, Punjab

Separately, the Enforcement Directorate is also investigating iX Global and sister company TP Global FX.

The ED’s ongoing investigation has led to the
arrest of Viraj Patil
. In addition to being a top iX Global promoter, Patil was also behind TP Global FX.

An
arrest warrant for iX Global founder Joseph Martinez
(right) remains active.

Amid ongoing civil regulatory investigations in the US, IX Global
collapsed
last month. Whether iX Global criminal charges will be filed in the US is unclear.

🤖 Quick Answer

What happened to the iX Global promoter in Maharashtra, India?
Preeti Nilesh Raut, an iX Global promoter, was arrested in Wardha, Maharashtra, following an investigation by the Economic Offences Wing (EOW) of Nagpur. She stands accused of defrauding investors of approximately Rs. 25.9 million (around $309,000 USD) through the iX Global scheme.

What scheme did iX Global allegedly operate in India?
According to the EOW Nagpur investigation, an associate named Suraj Savarkar, linked to iX Global (iX Academy Private Limited), allegedly lured investors into online forex trading by promising returns of 5% to 15%. Funds were deposited into accounts associated with various traders, including Canara Bank accounts in Kolkata.

**Why were investors defrauded through iX Global

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