Eddy Alexandre, CEO of purported crypto trading platform EminiFX has pleaded guilty to commodities fraud in a New York district court, agreeing to pay back millions to investors who lost funds to his"cryptocurrency investment scam.on Feb. 10 that Alexandre submitted a guilty plea to one count of commodities fraud, and will pay over $248 million in forfeiture along with restitution yet to be specified.
Alexandre was arrested and charged in May 2022 over his role in EminiFX and originally pleaded not guilty, butAn image of Alexandre appearing in an April 2022 video for EminiFX. Image:According to U.S. Attorney for the Southern District of New York, Damian Williams, from around September 2021 to May 2022, Alexandre ran the crypto and forex trading platform and “solicited more than $248 million in investments from tens of thousands of individual investors.
Williams said Alexandre purported EminiFX could give “weekly returns of at least 5%” but in reality, the CEO didn’t invest a “substantial portion” of the funds and “even used some funds for personal purchases.”automate tradingAlexandre refused to state to investors what the technology was and promised they would double their money within five months. Investors in the scheme were falsely presented with information that they had earned the stated 5% returns.
SBF_FTX you are next 🤣🤣🤣 just plead guilty now and save us a year
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