Court stays discovery in CFTC case against EminiFX
About a month after the United States Government sought to intervene in a lawsuit brought by the Commodity Futures Trading Commission (CFTC) against Eddy Alexandre and his company, EminiFX, Inc., the Court has granted the motion for a stay of discovery in the civil case.
In May 2022, the CFTC filed a complaint against Alexandre and EminiFX alleging that Alexandre was operating EminiFX as a fraudulent enterprise and misappropriating EminiFX investor funds. On May 11, the CFTC moved for the Court to issue a statutory restraining order, inter alia, freezing the assets of EminiFX and Alexandre, and appointing the Receiver to take control of EminiFX, relief which this Court granted the same day.
On May 12, 2022, a criminal complaint against Alexandre was unsealed, and Alexandre was arrested and presented that same day. The Criminal Complaint charged Alexandre with one count of commodities fraud, in violation of Title 7, United States Code, Sections 9(1) and 13(a)(5), Title 17, Code of Federal Regulations, Section 180.1, and Title 18, United States Code, Section 2, and one count of wire fraud, in violation of Title 18, United States Code, Sections 1343 and 2.
On September 2, 2022, Judge Valerie E. Caproni of the New York Southern District Court signed an order granting the motion for stay of discovery.
As the Government noted, the criminal case against Defendant Alexandre is scheduled to be tried on March 27, 2023. Thus, this stay is for a limited period, which will not prejudice any of the parties in the civil case; to the extent there is any prejudice, it is outweighed by considerations of judicial efficiency.
The United States Attorney will have to submit a letter to update the Court on the status of the related criminal proceedings every ninety days. The first update will be due on December 1, 2022.
February 9, 2023 @ 7:27 am
On February 9, 2023, what is the latest on EMINI-FX? When is EMINI due date and time court appearance. Thanks
February 16, 2023 @ 2:38 pm
I gather you don’t read FNG’s articles on this topic, so here are two alternative options for you:
1) If you would like to get updates from the Court, check the case’s docket.
2) If you’d like information from the administrators, they have set up a special website for that purpose: https://www.eminifxreceivership.com.