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