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      Federal Court Orders $288 Million Judgment Against EminiFX for Ponzi Scheme

      A federal court in the United States has ordered Eddy Alexandre and his company, EminiFX, to pay over $288 million for operating a Ponzi scheme. The Commodity Futures Trading Commission (CFTC) initiated the civil case, which began in 2022. The court's ruling includes $228.58 million in restitution, $15.05 million in disgorgement, and a $45.15 million civil monetary penalty, following a summary judgment granted in August 2025 and a final judgment issued on October 8, 2026.

      EminiFX operated from September 2021 to May 2022, attracting more than 25,000 investors, primarily from the Haitian-American community in New York. The company falsely promised weekly returns of 5% to 9.99%, claiming to utilize non-existent trading technology. Despite raising over $262 million, EminiFX incurred net trading losses exceeding $49 million, relying on funds from newer investors to pay earlier ones. Alexandre also misappropriated at least $15 million for personal expenses, including luxury items.

      In addition to the civil case, Alexandre faced criminal charges, pleading guilty to commodities fraud in July 2023. He was sentenced to nine years in prison and ordered to pay over $213 million in restitution. A court-appointed receiver has been working to recover funds for victims, having returned approximately $98.2 million by mid-2026, with another distribution expected in 2027.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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