The court for the Southern District of New York rejected the EminiFX investor's motion to participate in a lawsuit brought by the Commodity Futures Trading Commission (CFTC).。

Judge Valerie E.Caproni signed an order in support of the CFTC on February 14, 2024, as the regulator objected to the EminiFX investor group's attempt to intervene in its lawsuit.。

Judge says EminiFX investors' interests fully represented by CFTC。

On May 11, 2022, the CFTC filed a lawsuit against Eddy Alexandre and his company, EminiFX, over the matter, mainly alleging that Alexandre operated EminiFX as a Ponzi scheme.。As part of the relief request, the CFTC sought damages from EminiFX participants。On the same day, the court issued a statutory restraining order, which included freezing the defendant's assets and appointing a receiver to protect and maintain those assets.。

The case was suspended while Alexandre's criminal case was heard, and the defendant pleaded guilty and was sentenced to 108 months in prison as well as huge compensation and confiscation claims.。Subsequently, the CFTC and the Defendants agreed in principle to resolve the matter comprehensively, and the CFTC will file a proposed consent decree after obtaining the Committee's approval.。