Eddy Alexandre, CEO of Cryptocurrency and Forex Trading Platform EminiFX, Sentenced to Nine Years in Prison

Binance News · 2023-07-19T04:11:15.000Z

According to Bloomberg, the U.S. Federal Court in Manhattan has sentenced Eddy Alexandre, founder and CEO of cryptocurrency and foreign exchange trading platform EminiFX, to nine years in prison for conducting a cryptocurrency Ponzi scheme that defrauded more than 25,000 people through his cryptocurrency and foreign exchange platform. investors exceeding US$248.8 million. Eddy Alexandre pleaded guilty to commodity fraud in February this year. It is reported that between September 2021 and May 2022, Alexandre promised investors that their investments could obtain a return of 5% or higher every week, thus attracting more than 25,000 investors. However, cryptocurrency and forex platforms operate as multi-level marketing schemes that encourage existing investors to attract new users to the platform.

According to Bloomberg, the Manhattan Federal Court has sentenced Eddy Alexandre, founder and CEO of cryptocurrency and foreign exchange trading platform EminiFX, to nine years in prison for running a cryptocurrency Ponzi scheme that defrauded more than 25,000 investors of more than $248.8 million through its cryptocurrency and foreign exchange platforms. Eddy Alexandre pleaded guilty to commodities fraud in February this year.
It is reported that between September 2021 and May 2022, Alexandre promised investors that their investment could get a weekly return of 5% or more, thereby attracting more than 25,000 investors. However, the cryptocurrency and foreign exchange platform operated as a multi-level marketing plan, encouraging old investors to attract new users to the platform.