David A. Castleman, the Court-appointed receiver over EminiFX is trying to secure a Court order compelling Eddy Alexandre to turn over assets.

At the outset of the Receivership, Alexandre turned over certain assets to the Receiver. In connection with such turnover, Alexandre, through his then counsel, provided a list of Alexandre and EminiFX assets, including bank, cryptocurrency, and other accounts.

During the course of the Receiver’s review of investor claims, the Receiver uncovered new information revealing that there are assets of the Estate that were not disclosed to the Receiver and are yet to be recovered.

Specifically, the Receiver has discovered (1) two luxury watches purchased by Alexandre with EminiFX deposits for $509,986.00, (2) $5 million in cash that was deposited in person by EminiFX users and is not accounted for in any of the accounts that Alexandre disclosed to the Receiver, as well as (3) evidence of a currency fraud that took place within EminiFX.

Thus, having substantially completed the review of investor claims and having begun distribution of funds pursuant to the approved Distribution Plan, the Receiver and his team have now re-focused their efforts on continuing to investigate and recover any additional assets of the Receivership Estate.

In addition to seeking the return of the assets identified, the Receiver must have access to Alexandre’s Laptop and his Gmail Account. They will likely contain information that would assist the Receiver in identifying additional assets.

Alexandre has for months thwarted the Receiver’s efforts to examine the Laptop and Gmail Account. Alexandre’s appeal of the Court’s Order on his motion to return his Laptop, and reconsideration of the same, has now been dismissed and there is no justification for further delay. The Receiver argues that his ability to access the Laptop and Gmail Account is critical to returning additional funds to investors and the same was confirmed by the Court.

Despite the Receiver’s assurance that he only wants to obtain information related to EminiFX and would limit as much as possible the Receiver’s review of any personal or privileged information, Alexandre has, to date, refused to turn over the passwords.

Thus, the Receiver seeks the Court’s assistance in compelling Alexandre to comply with the Consent Order by turning over assets and information to the Receiver.

The CFTC initiated this case on May 11, 2022, alleging various violations of the Commodity Exchange Act (CEA). The CFTC alleged that the Defendants engaged in fraud with respect to the sale of commodities futures and forex trades, that Defendants used manipulative devices in furtherance of the fraud, that EminiFX failed to register as a commodity pool operator (CPO), and that Alexandre failed to register as an associated person (AP) of a CPO.

The following day, Mr. Alexandre was arrested.