On October 21st, Indian officials detained Sailesh Pandey, who was allegedly a prominent IX Global Ponzi insider.
With the help of his brothers Arvind and Rohit, Pandey is accused of laundering more than $9 million in stolen assets.
As a result of a suspicious report submitted by Canara Bank in August, Pandey’s plot to launder money was exposed.
According to News18;
In August, two accounts were established. TP Global Effects’ name was used to open the account(s).
At the time of account establishment, (TP Global Effects) was identified as a food grain business.
During the first week of September this year, a large number of financial transactions were conducted through the account.
When transactions exceeded USD 9 million, Canara Bank “got concerned” since one of the associated entities was already on the Reserve Bank of India’s blacklist.
Since then, the Reserve Bank of India has verified that IX Global and its affiliated money-laundering shell corporations are “on an alert list.”
In mid-October, an arrest warrant for Sailesh Pandey and his brothers was issued.
On October 20th, an ongoing police investigation in Kolkata discovered that Pandey had laundered $25 million for IX Global.
On the 21st of October, Prabhat Khabar reported;
The Anti-Bank Fraud unit of the Kolkata Police apprehended the main suspect, Shailesh Kumar Pandey (49), along with his two brothers Arvind Kumar Pandey (35),… both Rohit Pandey (29) and Rohit Pandey (28) were detained Thursday night in Rourkela, Odisha.
The brothers were aware of the arrest order against them and had fled.
In Gujarat, a fourth arrest was made following the interrogation of the Pandey brothers. Prasenjit Das is accused of establishing bank accounts for the Pandey brothers to utilize to launder IX Global cash.
IX Global was introduced in 2021. The Ponzi scam is concealed beneath a monthly subscription-based educational portal.
Co-founders Joel Martinez (CEO), Anita Davis (COO), and Helen Boyle are in charge of IX Global (CCO).
Martines is considered to be an American citizen. Davis and Boyle are British citizens.
IX Global solicits investments with the promise of a monthly return of 5 to 20 percent.
2021, according to a BusinessForHome PR puff post, IX Global scammed consumers out of $22 million.
Allegedly, IX Global earned $11 million in February 2022 alone.
On October 3rd, BusinessForHome hailed IX Global’s $100 million consumer fraud.
The proprietor of BusinessForHome, Ted Nuyten (right), has not stated if there is a financial tie between IX Global and the newspaper.
At the time of publishing, SimilarWeb lists India (80%, down 30% month over month) and the United States (10%, up 600% month over month) as the leading sources of traffic to IX Global’s website.
IX Global is not authorized to offer securities in India or the United States. Uncertain whether US officials are also examining IX Global.
Also unknown is how IX Global would be affected by the loss of its significant money laundering operation in India. Regarding the arrests, the corporation has not released a statement.
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On October 21st, Indian officials detained Sailesh Pandey, who was allegedly a prominent IX Global Ponzi insider.
With the help of his brothers Arvind and Rohit, Pandey is accused of laundering more than $9 million in stolen assets.
As a result of a suspicious report submitted by Canara Bank in August, Pandey’s plot to launder money was exposed.
According to News18;
In August, two accounts were established. TP Global Effects’ name was used to open the account(s).
At the time of account establishment, (TP Global Effects) was identified as a food grain business.
During the first week of September this year, a large number of financial transactions were conducted through the account.
When transactions exceeded USD 9 million, Canara Bank “got concerned” since one of the associated entities was already on the Reserve Bank of India’s blacklist.
Since then, the Reserve Bank of India has verified that IX Global and its affiliated money-laundering shell corporations are “on an alert list.”
In mid-October, an arrest warrant for Sailesh Pandey and his brothers was issued.
On October 20th, an ongoing police investigation in Kolkata discovered that Pandey had laundered $25 million for IX Global.
On the 21st of October, Prabhat Khabar reported;
The Anti-Bank Fraud unit of the Kolkata Police apprehended the main suspect, Shailesh Kumar Pandey (49), along with his two brothers Arvind Kumar Pandey (35),… both Rohit Pandey (29) and Rohit Pandey (28) were detained Thursday night in Rourkela, Odisha.
The brothers were aware of the arrest order against them and had fled.
In Gujarat, a fourth arrest was made following the interrogation of the Pandey brothers. Prasenjit Das is accused of establishing bank accounts for the Pandey brothers to utilize to launder IX Global cash.
IX Global was introduced in 2021. The Ponzi scam is concealed beneath a monthly subscription-based educational portal.
Co-founders Joel Martinez (CEO), Anita Davis (COO), and Helen Boyle are in charge of IX Global (CCO).
Martines is considered to be an American citizen. Davis and Boyle are British citizens.
IX Global solicits investments with the promise of a monthly return of 5 to 20 percent.
2021, according to a BusinessForHome PR puff post, IX Global scammed consumers out of $22 million.
Allegedly, IX Global earned $11 million in February 2022 alone.
On October 3rd, BusinessForHome hailed IX Global’s $100 million consumer fraud.
The proprietor of BusinessForHome, Ted Nuyten (right), has not stated if there is a financial tie between IX Global and the newspaper.
At the time of publishing, SimilarWeb lists India (80%, down 30% month over month) and the United States (10%, up 600% month over month) as the leading sources of traffic to IX Global’s website.
IX Global is not authorized to offer securities in India or the United States. Uncertain whether US officials are also examining IX Global.
Also unknown is how IX Global would be affected by the loss of its significant money laundering operation in India. Regarding the arrests, the corporation has not released a statement.