Court denies EminiFX investors’ motion to intervene in CFTC action
The New York Southern District Court has denied motion by EminiFX investors to intervene in the lawsuit brought by the CFTC.
The New York Southern District Court has denied motion by EminiFX investors to intervene in the lawsuit brought by the CFTC.
The Commodity Futures Trading Commission (CFTC) opposes the EminiFX investors’ motion to intervene.
In 2022, cash receipts by the Receivership of EminiFX totaled nearly $65 million, primarily from the turnover of frozen funds.
The CFTC supports the Receiver’s proposal that estate digital assets be sold in a managed liquidation process.
The Court has granted a request by the US Government to stay the discovery in the CFTC case against EminiFX.
The Government wants to stay discovery in the CFTC case against EminiFX in its entirety until the conclusion of a related criminal case.
The Receiver is not aware of any legitimate business activity of EminiFX that requires the ongoing use of the company.
The CFTC charges Eddy Alexandre and his company, EminiFX, Inc. with orchestrating a $59 million fraudulent scheme.