Who Is Eminifx CEO Eddy Alexandre? Arrested Over Fraudulent Scheme

Eddy Alexandre is the founder and CEO of EminiFX, a cryptocurrency, and foreign exchange trading platform. He is from New York, Valley Stream.

CEO Of Cryptocurrency And Forex Trading Platform Charged With Fraudulent Scheme Involving Over $59 Million

Eddy Alexandre allegedly induced his clients to invest over $59 million, promising returns via his own proprietary trading platform called EminiFx.https://t.co/TFRBTYYhYW pic.twitter.com/MiAkNW0ECV

— ClearingTheFog (@clearing_fog) May 12, 2022

He has approximately 30 years of expertise in cybersecurity, most recently as a senior IT professional at WarnerMedia.

According to US Attorney Damian Williams, the CEO of EminiFX, a claimed cryptocurrency and forex trading platform, has been charged with commodities fraud and wire fraud.

Alexandre promised investors that he could double their money in five months by using proprietary Robo-advising technology to achieve 5% weekly returns.

Authorities claim Alexandre failed to invest the "great majority of investor funds given to him" and suffered losses on the small amount of money that he invest.

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After making misleading promises in connection with the EminiFX trading platform, Alexandre solicited more than $59 million in contributions from hundreds of individual individuals.

On Thursday, May 12, 2022, he was arrested and will appear in court.

Alexandre managed EminiFX, a claimed investment platform he developed, from September 2021 to May 2022, according to authorities, and sought financing from hundreds of investors.

New York Man Arrested, Charged With Fraud For Alleged Role in $59M Crypto Pyramid Scheme: The FBI says 50-year-old Eddy Alexandre promised investors he could double their money with a “robo-advisor” – and then spent their money on ... https://t.co/SfOO9FrwUu #phishing #419fraud

— Ultrascan 419 (@Ultrascan419) May 13, 2022

He is charged of pitching the company as an investing platform where investors may earn passive income through automated bitcoin and foreign exchange trading.

Alexandre allegedly lost more than $6 million in the funds he invested throughout his time running the scheme, which he did not disclose.

Williams said that instead of using investor cash as promised, he diverted at least $14.7 million to his own bank account to live a lavish lifestyle.

Alexandre spent $155,000 of investor cash on a BMW automobile for himself and another $13,000 on car payments, including to Mercedes Benz.

Alexandre faces one count of commodities fraud and one count of wire fraud. He faces up to 20 years in jail if found guilty of the allegations.

The maximum potential punishments are set by Congress and the sentence will be determined by a court.

According to the complaint, Alexandre also used client funds for business expenses such as acquiring an office, throwing a gala, and hiring lawyers.

He allegedly used a multi-level marketing-style recruitment approach as well as the office and other promotional events to find new investors.

Mr. Williams applauded the FBI's investigative efforts and thanked the Commodity Futures Trading Commission for its help.

The Securities and Commodities Fraud Task Force of the Office is investigating this matter. The prosecution is led by Assistant United States Attorneys Nicholas Folly and Jared Lenow.

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