Hear from iX Global CEO, Joe Martinez as he shares his side of the SEC Lawsuit with The Beachside CEO, Troy Dooly.
What is the SEC Lawsuit against the iX Global CEO and his Company?
The SEC’s Arguments:
- iX Global and Debt Box have defrauded thousands of investors of at least $49 million by offering unregistered, fraudulent investment contracts, Ponzi schemes, and misrepresentation1.
- The defendants have promised investors that they could mine various crypto assets that were backed by real projects and assets, but in reality, they had no such projects or assets1.
- The defendants have used investor funds to pay for personal expenses, lavish lifestyles, and to make Ponzi payments to earlier investors1.
- The SEC has sought emergency relief to halt the ongoing violations, prevent further harm, and seek disgorgement and civil penalties1.
iX Global’s Arguments:
- iX Global and Debt Box are innovative companies that provide education and digital solutions in the Web3, blockchain, and crypto space2.
- The SEC’s case is based on date errors and misrepresentations in the complaint, and the SEC has failed to provide sufficient evidence to support its allegations3.
- The SEC’s case is an example of regulatory overreach and hostility towards U.S. businesses that embrace innovation and operate in emerging industries2.
- iX Global and Debt Box have achieved a monumental win in the legal battle, as the presiding judge dissolved the temporary restraining order and threatened to hold the SEC in contempt for misleading the court2.
Learn More About Joe Martinez
To learn more about the iX Global Ceo, Joe Martinez, CLICK HERE
On July 28, 2023 the Securities and Exchange Commission was granted an emergency TRO (Temporary Restraining Order) against DIGITAL LICENSING INC. (d/b/a “DEBT Box”), a Wyoming corporation; JASON R. ANDERSON, an individual; JACOB S. ANDERSON, an individual; SCHAD E. BRANNON, an individual; ROYDON B. NELSON, an individual; JAMES E. FRANKLIN, an individual; WESTERN OIL EXPLORATION COMPANY, INC., a Nevada corporation; RYAN BOWEN, an individual; IX GLOBAL, LLC, a Utah limited liability company; JOSEPH A. MARTINEZ, an individual; BENAJMIN F. DANIELS, an individual; MARK W. SCHULER, an individual; B & B INVESTMENT GROUP, LLC (d/b/a “CORE 1 CRYPTO”), a Utah limited liability company; TRAVIS A. FLAHERTY, an individual; ALTON O. PARKER, an individual; BW HOLDINGS, LLC (d/b/a the “FAIR PROJECT”), a Utah limited liability company; BRENDAN J. STANGIS, an individual; and MATTHEW D. FRITZSCHE, an individual; Defendants and ARCHER DRILLING, LLC, a Wyoming limited liability company; BUSINESS FUNDING SOLUTIONS, LLC, a Utah limited liability company; BLOX LENDING, LLC, a Utah limited liability company; CALMFRITZ HOLDINGS, LLC, a Utah limited liability company; CALMES & CO, INC., a Utah corporation; FLAHERTY ENTERPRISES, LLC, an Arizona limited liability company; IX VENTURES FZCO, a United Arab Emirates company; PURDY OIL, LLC, a Nebraska limited liability company; THE GOLD COLLECTIVE LLC, a Utah limited liability company; and UIU HOLDINGS, LLC, a Delaware limited liability company, Relief Defendants; Alleging securities fraud and the sale of unregistered securities.
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