Ibex Global
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| Company type | Public |
|---|---|
| Nasdaq: IBEX | |
| Industry | Business process outsourcing |
| Founded | 2002 |
| Headquarters | Washington, D.C., United States |
Key people | Mohammed Khaishgi (Chairman) Bob Dechant (CEO) |
| Revenue | Increase $523.1 million (2023) |
Number of employees | 30,000 |
| Parent | TRG Pakistan |
| Website | ibex |
Ibex Global is an American business process outsourcing company based in Washington, D.C..[1]
History
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Ibex was founded in 2002 as a subsidiary of TRG Pakistan.
In 2014, Ibex opened a call center in Spring Hill, Tennessee.[2]
In 2018, Ibex closed its call center in Indiana and laid off 105 employees.[3]
Fraud Allegations
[edit | edit source]In June 2025, the Sindh High Court delivered a 52-page judgment in J.C.M. No. 12 of 2025, which found that senior executives of TRG Pakistan Limited—including Mohammed Khaishgi, the Chairman of IBEX Limited’s Board—had acted in a manner that was “unlawful, fraudulent and oppressive.”[4] The case involved the use of approximately US $150 million of TRG’s own funds, routed through a Bermuda-based shell company, to illegally acquire TRG shares in violation of Section 86(2) of the Companies Act, 2017. Although the judgment was directed at TRG Pakistan, it raised concerns over governance practices at IBEX Limited due to the overlapping leadership.[5][6][7]
References
[edit | edit source]- ^ https://www.bizjournals.com/washington/news/2018/02/28/d-c-region-might-see-another-company-go-public-we.html
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- ^ Judgment of the High Court of Sindh, Karachi, J.C.M. No. 12 of 2025, delivered June 20, 2025. Sindh High Court. Retrieved June 22, 2025.
- ^ "TRG Pakistan management acted fraudulently, illegally in Zia Chishti case: SHC". Geo News. June 20, 2025.
- ^ "SHC finds $150 million fraud by TRG Pakistan management". The Nation. June 22, 2025.
- ^ "Fund manager Pinebridge implicated in $150 million fraud". Dialogue Pakistan. June 22, 2025.
