Stop David Castleman and Preserve EminiFX Estates Values

Stop David Castleman and Preserve EminiFX Estates Values

August 10, 2022
Signatures: 5,219Next Goal: 7,500
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Why this petition matters

Started by EminiFX Members

Now, we the people of EminiFX and investors in the estate come forward to publicly denounce the $1 million payment to the receiver that was approved by the Southern District Court of New York on August 5th, 2022. Since May 11th, the EminiFX estate has only lost value under the receivership from an estimated $175 Millions down to now $146 Million, which represents $29 Million in loss of value while missing countless opportunities.  

In addition, the receiver lied to us on many occasions, and here are some blatant examples:  

1. Misrepresentation of the business operations   

On one occasion he said he found no business operations to justify winding down the Eminifx operations and on another occasion he contradicted himself and said he found a very complex operation to justify helping the justice department further their actions against the EminiFX estate in ways that posed a grave conflict of interests that can help the government forfeit all our money.  

2. Lying by omission    

He also lied by omission by failing to disclose that he knew very early of the existence of a crypto account under EminiFX that had over $109 Million in Estonia when he published his preliminary report in June.  

3. Failure to disclose conflict of interests   

He also lied, when he failed to disclose that he has a conflict of interests with the CFTC who nominated him on the 11th of May, while the same entity has a civil action against the estate he vowed to protect.  

4. Misrepresentation of asset values and failure of fiduciary duty 

Finally, he lied to us and totally failed on his fiduciary duties to protect the values of the EminiFX estate and our hard-earned money, when he said our Long Island Real Estate portfolio would lose money, when in fact an independent thorough investigation has revealed the Real Estate would actually generate millions of dollars in profit on behalf of the members. Is it possible that he did this so he could easily line up his pockets and protect the interests of his friends at our expense?  Are the hard-working members becoming a victim of his fraudulent campaign?  

Wherefore we come forward:  

1. To oppose the million-dollar payments in fees to the receiver and his friends for services NOT rendered in the best interest of the estates and the investors, for the period covering only the first 2 months of May and June, while instead of protecting values for the Estates, the receiver destroyed values and wasted our hard-earned money.  

2. To preserve values for the 62,000 hard-working families, to whom the money belongs, against the receiver's high costs and ineffective operations.

3. To denounce the conflict of interests that exists between the receiver and hostile agents of the estate such as the Washington Post who has been critical of the estate which undermines the marketability of the estate and both the justice that has a controversial criminal procedure against our CEO, which includes a forfeiture order that directly threatens the existence of the entire Estates should Eddy Alexandre ever lose the case, and the CFTC who nominated the receiver and also has a civil action against the estate.  

Wherefore, the members AND rightful investors of EminiFX come forth to publicly denounce this travesty of justice that has allowed David Castleman to keep on destroying the EminiFX Estates and use our hard money to enrich himself.  

Furthermore, we demand that the receiver David Castleman be terminated within 60 days to allow for a smooth transition process to be completed in ways that all members get assurance that the estate is properly protected and for the fees of the receivership to be limited and strictly monitored in ways that are transparent and fair to the hard-working members of the funds.  

Finally, we the members want to choose the receiver to replace David Castleman in the future and we want to have a say on the terms that guide the actions of the receiver and a say on the management of the estates because it is our money and we worked hard for it.  

For and by the people of EminiFX

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Signatures: 5,219Next Goal: 7,500
Support now