US $ 59 million | Fraud – Crypto: Haitian Eddy Alexandre arrested Thursday in New York

Alexander was arrested Thursday. He is charged with fraud and commodity fraud, which carries maximum prison sentences of 20 years and 10 years respectively. Alexandre told investors at a meeting on April 28 that if they invested $ 1,000 “they would be millionaires within three years”

Thursday, May 12, 2022 (( –

U.S. prosecutors on Thursday charged a New York man with fraud after he allegedly raised more than $ 59 million by promising investors he could double their money in five months and turn them into millionaires, thanks to his cryptocurrency trading platform and exchange.

Alexander was arrested Thursday. He is charged with fraud and commodity fraud, which carries maximum prison sentences of 20 years and 10 years respectively. The alleged fraud began in September last year.

According to a criminal complaint filed in Manhattan federal court, 50-year-old Eddy Alexandre guaranteed 5% weekly returns to hundreds of investors who opened a “robo-advisor assisted account” on his EminiFX platform, using a non-existent technology he called “our trade secret”. . »

Alexandre reported on the EminiFX website that investors’ account balances rose 5% to 9.99% every Friday, telling investors at a meeting on April 28 that if they invested $ 1,000, “they would be millionaires within three years,” “according to the complaint.

But prosecutors said Alexander did not invest most of what he raised, lost more than two-thirds of the $ 9 million he invested in stocks and stock options – but not the promised cryptocurrency or foreign currency – and had diverted at least 14.7 mio. personal bank account.

Alexander also allegedly spent $ 155,000 of investor money on a BMW car and withdrew an official $ 10,000 check back to “Mercedes Benz”.

Press release from the Ministry of Justice

CEO of cryptocurrency and forex trading platform accused of fraudulent scheme involving over $ 59 million
Damian Williams, the U.S. Attorney for the Southern District of New York, and Michael J. Driscoll, deputy director in charge of the New York Field Office of the Federal Bureau of Investigation, announced today that a complaint has been removed in Manhattan. The court accuses EDDY ALEXANDRE, the leader of an alleged cryptocurrency and currency trading platform called EminiFX, of commodity fraud and breaches of electronic fraud. As alleged, ALEXANDRE requested over $ 59 million in investments from hundreds of individual investors after making false claims regarding the EminiFX trading platform. ALEXANDRE was arrested this morning and will appear before Judge Katharine H. Parker of the U.S. District Court for the Southern District of New York later today.

U.S. Attorney Damian Williams said: “Eddy Alexandre allegedly tricked his clients into investing over $ 59 million with promises of huge passive income through his own trading platform called EminiFx. In reality, such technology did not exist as Alexander would have invested very little of their money – most of which was lost – and would have transferred most of it to their own personal accounts to pay for luxury items themselves .. As in all financial markets, foreign exchange markets offer the potential for high returns, but investors should beware of the negative risks of manufactures and get rich-quick schemes that are often too good to be true.

FBI Deputy Director Michael J. Driscoll said: “As alleged, Mr. Alexander requested millions of dollars from ignorant investors, as he ‘guaranteed’ 5% weekly returns through his platform. Trading using new technology, which he refused to disclose. Like many greedy actors who came before him, he then used a significant portion of the funds from the investors he requested to buy expensive luxury goods. , that they face the consequences of their actions in the federal criminal justice system.

As alleged in the complaint overturned today in the Manhattan federal court[1] :

From or around September 2021, until or around May 2022, ALEXANDRE operated EminiFX, Inc. (“EminiFX”), an alleged investment platform founded by ALEXANDRE and which he requested more than $ 59 million in investments from hundreds of individual investors. ALEXANDRE marketed EminiFX as an investment platform through which investors would earn passive income through automated investments in cryptocurrency and foreign exchange trading (“FOREX”). ALEXANDRE offered his investors “guaranteed” high return on investment using a new technology that he claimed was secret. Specifically, ALEXANDRE falsely represented to investors that they would double their money within five months of investing by earning a weekly return of 5% of their investment by using a “robo-advisor-assisted account” to trade. ALEXANDRE called this technology a “trade secret” and refused to tell investors what the technology was. Each week, the EminiFX website falsely represented to investors that they had earned at least 5% on their investment, which they could withdraw or reinvest.

In truth and in fact, and as ALEXANDRE well knew, EminiFX did not earn 5% weekly returns for its investors. ALEXANDRE has not even invested the vast majority of the investor funds entrusted to him, and ALEXANDRE has just over $ 6 million in losses on the limited portion of the funds he has invested, which he has not disclosed to his investors. Instead of using the investors ‘funds, as he had promised, ALEXANDRE embezzled at least about $ 14.7 million into his personal bank account, leaving the vast majority of investors’ funds uninvested. For example, ALEXANDRE spent $ 155,000 of investor funds to buy a BMW car for itself and spent an additional $ 13,000 of investor funds on car payments, including for Mercedes Benz.

ALEXANDRE, 50, of Valley Stream, New York, is charged with a case of commodity fraud, which carries a maximum penalty of 10 years in prison, and a case of electronic mail fraud punishable by up to 20 years in prison.

The maximum potential sanctions are prescribed by Congress and are given here for informational purposes only, as any sentencing of the accused will be determined by a judge.

Mr. Williams praised the investigative work of the Federal Bureau of Investigation and also thanked the Commodity Futures Trading Commission for its assistance.

This case is handled by the Bureau’s Task Force on Securities and Commodity Fraud. Assistant U.S. Attorneys Nicholas Folly and Jared Lenow are in charge of the charges.


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