IX Global Viraj Patil arrested in Dubai for fraud case and netizens are curious to know more. Be with us till the end and get to learn about it.
There are several tales of achievement in the corporate world of people who achieved greatness through perseverance and hard effort.
But for every inspirational tale of accomplishment, there are cautionary tales of people who fell from glory because of unethical behavior.
Viraj Patil is one such name that has been in the news lately. Although he is seen by some as a prosperous businessman, he is also linked to scandal and network marketing issues by others.
Within the direct selling industry, Viraj Patil is a well-known figure. Viraj Patil was born in Mumbai, India, on May 23, 1993, and was raised in a middle-class household.
His mother is a housewife, while his father is employed by the government. Be with us till the end to know about Viraj Patil Arrested news.
IX Global Viraj Patil Arrested In Dubai For Fraud Case: Is He In Jail?
IX Global Viraj Patil arrested for a fraud case in Dubai. Top earner Viraj Patil of iX Global didn’t want to spend Christmas and New Year’s in Dubai.
A wanted fugitive named Viraj was taken into custody on Sunday night as his plane from Dubai touched down at Chhatrapati Shivaji Maharaj International Airport.
On Monday, Patil (right) was taken to jail in Kolkata by the Enforcement Directorate, as was reported by TV9 Bangla on December 25.
Thirteen people are being sought for allegations of fraud by iX Global, including Patil (right).
In 2022, the ED started looking at iX Global. Since then, the case has resulted in the arrests of Prasenjit Das, Arvind Pandey, Rohit Pandey, and Sailesh Pandey.
Das and the Pandeys are connected to iX Global’s money laundering division, which is connected to TP Global FX.
More Details On Viraj Patil Scandal Debunked
At least $25 million in stolen investor funds are allegedly laundered via iX Global and TP Global FX, according to Indian police.
More arrest warrants were obtained in October, including ones for Viraj Patil and Joe Martinez, the CEO of iX Global (right).
Martinez is a citizen of the US. The SEC filed a lawsuit against Martinez and iX Global in August 2023, claiming securities fraud totaling at least $49 million.
iX Global promised passive monthly returns of up to 20% when it first launched in 2020.
The reported returns on iX Global increased to a maximum of 25% in India.
According to iX Global’s illicit marketing, the Debt Box was the source of the returns. The SEC has also filed lawsuits against Debt Box and its officials.
We’ll update you on Patil’s arrest as soon as we learn more.
Viraj Patil Career Details
Viraj worked in the finance sector for a few years following his engineering graduation. But he was an enterprising man and wanted to launch his own company.
He started working for the direct-selling company IX Global in 2019, which specializes in educational products.
Viraj rose to the position of MLM Company’s highest earner as the business expanded quickly.
Viraj Patil uses sponsored media advertising to create and uphold his ideal self-image, which helps him expand his network of MLM distributors.
Viraj Patil previously worked as a promoter for Kuvera Global, which was formerly known as Wealth Generators.
But when the Commodities Futures Trading Commission (CFTC) penalized the business $150,000 for commodities fraud, it was in legal hot water.
Despite this, Kuvera Global carried on with its MLM business strategy, bringing in new members.