The Commodity Futures Trading Commission said on Monday that the United States District Court for the Southern District of New York has ordered Eddy Alexandre of Valley Stream, New York, and his company EminiFX Inc. to pay 228,576,962 dollars in restitution, disgorge 15,049,500 dollars in gains, offset by restitution paid, and pay a penalty of 45,148,500 dollars. The orders granted the CFTC’s motions for summary judgment in the case it filed in May 2022.
The court found that EminiFX, which presented itself as an investment club offering cryptocurrency and foreign exchange trading, took in more than 262 million dollars from tens of thousands of investors in eight months while reporting weekly returns of 5 percent to 9.99 percent. In fact the operation lost more than 49 million dollars, and at least 15 million dollars was taken by Alexandre for his own use. Alexandre is serving a nine-year prison sentence in a parallel criminal case, and the receiver in the CFTC case had returned over 98 million dollars to more than 28,000 investors as of July 2026.