EminiFX Receiver Sues Former CFO Over Alleged Fraud

The receiver appointed for the defunct EminiFX investment scheme, David A. Castleman, has filed a lawsuit against the company's former Chief Financial Officer, Clarelle Dieuveuil, in the New York Supreme Court. The legal action alleges serious misconduct, including breach of fiduciary duty and fraud, related to Dieuveuil's role in the operation of EminiFX. The receiver also contends that Dieuveuil aided and abetted the alleged fraudulent activities of EminiFX founder, Eddy Alexandre.

The lawsuit details several instances of alleged financial mismanagement. One key accusation involves the handling of over $6 million in cash contributions from investors in late March and early May 2022. While EminiFX was purportedly winding down cash contributions, some investors continued to contribute cash to designated personnel. This cash was then allegedly given to Dieuveuil or Alexandre, who would issue credits within the EminiFX system. However, the receiver claims that only about $1 million of the collected $6 million actually made its way into EminiFX bank accounts, and as CFO, Dieuveuil failed to ensure proper deposit procedures.

Furthermore, the lawsuit alleges that Dieuveuil personally benefited from the scheme. Despite not making substantial personal deposits, she reportedly accumulated referral credits through EminiFX's multi-level marketing program, which rewarded recruitment of new investors. Dieuveuil allegedly used "withdrawals" from this account to extract over $300,000, knowing or having reason to know that these funds originated from investor deposits. In addition to this, she allegedly received a separate $200,000 payment directly from EminiFX without providing any corresponding value to the company.

The receiver's legal action also highlights Dieuveuil's actions following the FBI raid on EminiFX headquarters in May 2022 and the subsequent arrest of Alexandre. It is alleged that Dieuveuil instructed EminiFX employees not to come to work and later attempted to organize online meetings to continue the operation even after an injunction to shut down EminiFX was issued. The receiver emphasizes that the lawsuit aims to recover funds for the benefit of the innocent investors who suffered losses due to the EminiFX Ponzi scheme.