EminiFX, Inc. Receivership

EminiFX, Inc. Receivership

Case Number: 22-03822 (VEC)

Southern District of New York

UPDATE ON FISHING ATTEMPTS. We have received information that EminiFX users have been sent emails indicating that EminiFX customers can initiate withdrawals via Ethereum by providing a Web3 address. THIS IS FALSE. THESE EMAILS ARE DANGEROUS PHISHING ATTEMPTS. All claims and distributions will be handled ONLY through the EminiFX User Portal on the www.eminifxreceivership.com website maintained by Stretto.

All personal and account information should be entered and managed using the EminiFX User Portal. The Receiver and his advisors will never contact you by email, telephone call, or otherwise requesting account information or other personal information outside of the EminiFX User Portal. You may receive an email directing you to the User Portal, but all information should still only be provided via the EminiFX User Portal.

If you receive any message purporting to be from the Receiver or his advisors and requesting account information or personal information, contact the Receiver’s claims agent, Stretto, at EminiFX@stretto.com. To report spoofing or phishing attempts, or to report that you've been a victim, file a complaint with the FBI's Internet Crime Complaint Center (IC3), the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC).

UPDATE ON TRANSACTION VERIFICATION AND CLAIMS PROCESS:  Pursuant to Court Order (docket no. 228), the Receiver has commenced a process for EminiFX Users to verify their EminiFX transactions and for non-Users to submit claims.  The Receiver will NOT ask any individual EminiFX User to pay a fee in order to submit their information.  Users should be receiving an email with important information on how to access the User Portal to verify their transactions.  The emails will start being sent on September 12, 2023.  If you have not received an email, please contact Stretto at EminiFX@Stretto.com.  Please check this website for further information regarding the User Portal and the process for Non-Users to file a proof of claim and relevant deadlines.

UPDATE ON THE TOWN HALLThe Receiver conducted his first Live Town Hall presentation on Wednesday, September 6, 2023, at 7:00 p.m. (ET).  The Receiver provided viewers with an update of the recent activities and the financial status of the receivership.  Please click the “Town Hall” tab for more information.

UPDATE ON FLORIDA CLASS ACTION The Receiver has recently become aware of a class action captioned Joseph et al. v. GCC of 7th Day Adventist et al., No. 23 Civ. 21552 (S.D. Fla.), filed last month in federal court in Miami concerning EminiFX. The Receiver has NOT endorsed this lawsuit or ANY other third party lawsuit. In addition, EminiFX users are advised as follows:

  1.     The Receiver has NOT asked any EminiFX user to pay any fee in order to participate in the receivership or the claims process.
  2.     The Receiver’s User transaction verification process is completely independent of the Florida case (or any other third party lawsuit).
  3.     There is a litigation stay in place, as explained in the Notice of Receivership sent to you and available HERE.
  4.     Every EminiFX user has a right to retain their own counsel. They may choose to do so. They may choose not to do so.
  5.     If you have any questions, please email EminiFX@Stretto.com

UPDATE ON FINANCIAL CONDITION REPORT The one-page Weekly Performance Reports of EminiFX can be found HERE. A copy of the entire Receiver’s Financial Condition Report of EminiFX can be found HERE.

UPDATE ON REFUNDS The Receiver has NOT provided any EminiFX user with a refund. He has not filed a distribution plan in this case, nor has he requested that the Court approve ANY distributions. Any information you have received to the contrary, including about a so-called ’90-day’ process, is incorrect.

UPDATE ON TAX CONSIDERATIONS AND 1099S: The Receiver is NOT going to send Form 1099 to any EminiFX user who received funds from EminiFX, given the nature of the EminiFX operation. The Receiver is unable to provide you with any advice as you handle your personal tax situation. For that, you will have to consult your personal tax advisor.