Department of Justice officials detailed a complaint against Eddy Alexandre, outlining one count of commodities fraud as leader of purported cryptocurrency and forex trading platform EminiFX.
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“Eddy Alexandre allegedly induced his clients to invest over $59 million with promises of huge passive income returns via his own proprietary trading platform called EminiFx,” United States Attorney for the Southern District of New York Damian Williams said. “In reality, no such technology existed, as Alexandre is alleged to have invested very little of their money – most of which he lost – and transferred most of it to his own personal accounts to pay for luxury items for himself. As in any of the financial markets, the foreign exchanges offer high return potential, but investors should beware of the downside risks of false claims and get rich quick schemes that oftentimes are too good to be true.”
The Department of Justice alleges Alexandre falsely represented to investors they would double their money within five months of investing by earning a 5 percent weekly return on their investment using a Robo-Advisor Assisted account to conduct trading.
“As alleged, Mr. Alexandre solicited millions of dollars from unwitting investors to whom he ‘guaranteed’ weekly returns of 5 percent through his trading platform using a new technology he refused to disclose,” Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation Michael J. Driscoll said. “As with many greedy actors who have preceded him, he then used significant portions of the investor funds he solicited to buy expensive luxuries for himself.”
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