IX/D.E.B.T. v S.E.C. Update December 2023:
Introduction:
“On October 6, iX Global achieved a monumental win in its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).
In a recent TRO hearing, the presiding Judge made the crucial decision to dissolve the Temporary Restraining Order (TRO) previously levied against iX Global and DEBT Box.
The Court’s decision comes after scrutinizing the evidence presented and recognizing discrepancies and potential misrepresentations in the SEC’s complaint.
The importance of this hearing was underlined by the presence of Tracy S. Combs, Director of SEC’s Salt Lake Regional Office, who was summoned by the Judge just hours before the hearing. The Court’s stance was clear – maintaining the highest standards of accuracy and fairness in all proceedings.”
As of December 2023:
The SEC’s acknowledgment of errors in the case has raised concerns about accuracy and transparency. Key points include:
Shortcomings in Duty: The SEC admits to falling short in accuracy and candor to the court.
Inaccurate Representations: During a hearing, SEC counsel made inaccurate statements, and these were not corrected when the errors were later identified.
Failure to Differentiate: The SEC did not clearly distinguish between factual statements and inferences, leading to potential misunderstandings.
Lack of Direct Evidence: Certain claims by the SEC, such as attempts to move