The U.S. Commodity Futures Trading Commission (CFTC) has scored a major victory in the fight against crypto fraud. Federal Judge Valerie Caproni has ordered Eddy Alexandre and his company EminiFX to pay $228.5 million in restitution to investors who were defrauded through what prosecutors called a “brazen” Ponzi scheme.

The ruling is another heavy blow for Alexandre, who was sentenced last year to nine years in prison for operating the fraudulent trading platform. EminiFX swindled more than 25,000 people out of $248 million, luring them with false promises of guaranteed profits.

A Ponzi Scheme Disguised as Cutting-Edge Tech

Alexandre promised investors weekly returns of 5–10%, supposedly generated by an automated crypto and forex trading system he branded as the Robo-Advisor Assisted Account (RA3). In reality, the platform lost money in most weeks. Even in its “best” week, when Alexandre claimed nearly 10% gains, the real return was just 2.28%.

Prosecutors emphasized that Alexandre exploited the trust of his church and Haitian community to attract investors. At least $15 million was funneled into his personal accounts and spent on luxury purchases, including BMW and Mercedes-Benz cars.

“Fraud persists, often hiding behind trendy buzzwords like artificial intelligence and cryptocurrency. But no technology can mask deception,” warned Alex Chandra, a partner at IGNOS Law Alliance.

Court Ruling: No Escape From Responsibility

Because Alexandre had already pled guilty in the criminal case, he could not deny liability in the civil action. Judge Caproni affirmed CFTC’s right to full restitution, adding an extra $15 million in payouts to cover investor compensation.

“His guilty plea leaves no room for dispute—issues already resolved in criminal court cannot be relitigated,” Caproni stated, referencing the legal doctrine of collateral estoppel.

Path to Investor Restitution

A court-appointed capital administrator has been overseeing asset recovery and distribution efforts since January 2025. While the process is complex, the ruling strengthens confidence that victims will gradually see justice served.

Lesson Learned: Investor Education as Protection

Experts stress that schemes like this often target communities with limited financial literacy. Raising awareness is critical: whenever someone offers “guaranteed high returns,” it’s almost always a red flag.

The EminiFX case serves as a reminder that even in the age of crypto and artificial intelligence, the old truth still applies: if it sounds too good to be true, it probably is.

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