iX Global’s and Debt Box’s combined securities fraud has climbed to over $110 million.

This is up from the
original $49 million the SEC sued the companies for
last month.

The disclosure was made in the Temporary Receiver’s September 13th First Status Report.

Between the Temporary Receiver and SEC, thus far the Temporary Receiver has only been able to around $11 million in assets.

$5 million of that is digital assets and $5.9 is fiat assets.

It should be noted that of the $5 million in digital assets identified, only $140,000 has been turned over by Debt Box’s owners.

To date, the DEBT Council Defendants—citing various difficulties and questions about tax consequences—have only

transferred approximately $145,000 USD equivalent in Digital Assets to the Receiver.

Whether this means Debt Box’s owners were hiding taxable income from the IRS is unclear.

Noting that prior to the SEC’s filing, iX Global and Debt Box initiated plans to
flee to Dubai
, the Temporary Receiver claims to have

identified millions of dollars in Fiat Assets either transferred overseas or for purported overseas operations by Receivership Entities.

Though the investigation is ongoing, the Receivership Team expect to provide more information to the court concerning these assets in the coming weeks.

iX Global and Debt Box appear to have hoped to obtain visas and continue laundering investor funds, through the Dubai shell companies Digital Commodity House FZCO and Digital Commodity Software House FZE.

In addition to the $5.9 million frozen by the SEC, the Temporary Reeciever has

identified approximately $9.5 million in Fiat transferred from Receivership Entities to escrow companies, all for the purchase of real property.

Additionally, the Receivership Team has identified ~ $1 million in Fiat transferred from Receivership Entities to luxury vehicle dealers and for other car purchases and services.

Furthermore, the Receivership Team has identified several million dollars transferred from Receivership Entities for the purchase the Lazy Magnolia brewery, located in Kiln, Mississippi.

Pending
sanctions against Debt Box’s owners
, who have refused to cooperate with the Temporary Receiver in violation of a granted TRO,

the Receiver intends to continue his investigation in order to identify, marshal, and secure assets rightfully belonging to

the Receivership Estate.

This will lead to a clearer picture of iX Global’s and Debt Box’s alleged fraud and, in particular, what happened to the bulk of the $110 million in investor funds that remains unaccounted for.

🤖 Quick Answer

What is the current total amount of securities fraud involving iX Global and Debt Box?
The combined securities fraud has reached $110 million, representing a significant increase from the original $49 million amount for which the SEC filed suit last month, as disclosed in the Temporary Receiver's September 13th First Status Report.

How much in assets have been recovered so far?
The Temporary Receiver and SEC have recovered approximately $11 million in assets, consisting of $5 million in digital assets and $5.9 million in fiat assets, though only $140,000 of the digital assets have been transferred by Debt Box's owners.

What obstacles have hindered asset recovery from the DEBT Council Defendants?
The DEBT Council Defendants have cited various difficulties and tax consequence concerns, resulting in the transfer of only approximately $145,000 USD equivalent in digital assets to the Receiver despite the

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