CEO of Cryptocurrency And Forex Trading Platform charged with fraudulent fraud worth over $ 59 million | USAO-SDNY

Damian Williams, United States Attorney for the Southern District of New York, and Michael J. Driscoll, Assistant Director of the New York Field Office of the Federal Bureau of Investigation, announced this date of the opening of a lawsuit in Manhattan federal. A court is prosecuting EDDY ALEXANDRE, the leader of a suspected cryptocurrency and forex trading platform called EminiFX, with fraud and fraudulent offenses. ALEXANDRE reportedly solicited more than $ 59 million in investments from hundreds of single investors after making false statements about the site. EminiFX trading. ALEXANDRE was arrested this morning and will appear later today before Justice Katharine H. Parker at the U.S. District Court for the Southern District of New York.

U.S. Attorney Damian Williams said: “Eddy Alexandre has told his clients to invest over $ 59 million with promises to make huge passive money through his own trading platform called EminiFx. In fact, there is no such thing as technology, although Alexandre is said to have invested very little of their money – most of which was lost – and converted most of it to his own accounts. As with some financial markets, foreigners offer the potential for high returns, but investors need to be aware of the risks under fraudulent claims and get quick deals. The better the truth.

FBI Assistant Director Michael J. Driscoll said: “As reported, Mr. Alexandre solicited millions from investors without knowing how to return any. a week 5% through his market using a new technology he refused to disclose .. Like many musicians who have gone before him, he has used large pieces of the money he asked to buy valuables for himself.Today’s action further demonstrates the FBI’s efforts to track down fraudsters such as Mr.

As stated in the Appeal not opened today in Manhattan federal court[1]:

From September 2021 to May 2022, ALEXANDRE operated EminiFX, Inc. hundreds of individual publishers. ALEXANDRE traded EminiFX as an investment platform to earn passive income by investing in cryptocurrency and foreign exchange (“FOREX”) trading. ALEXANDRE offers its investors a “guarantee” of high returns using new technology it says is confidential. In fact, ALEXANDRE falsely told investors that they would double their money within five months of investing by earning 5% each week on their return. invest using a “Robo-Advisor Assisted account” to guide the trade. ALEXANDRE called the technology his “trade secret” and refused to tell investors what the technology was like. Every week, the EminiFX website falsely reports to investors that they have earned about 5% on the minimum of their investment, which they can return and re -invest.

Honestly and honestly, and as ALEXANDRE clearly knows, EminiFX does not earn 5% per week for its investors. Alexander did not spend most of the money given to him, and ALEXANDRE continued to incur losses of over $ 6 million on the minimum of the funds he had invested, he did not disclose his income. contributors. Instead of using the investors ‘money as promised, ALEXANDRE misappropriated about $ 14,700,000 in his personal treasury and did not invest most of the investors’ money. . For example, ALEXANDRE used $ 155,000 in cash to buy a BMW car for itself and used an additional $ 13,000 of cash in car sales, including Mercedes Benz.

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Alexander, 50, of Valley Stream, New York, was charged with one count of property fraud, the maximum sentence of 10 years in prison, and one count of wire fraud, including maximum sentence of 20 years in prison.

The maximum penalties are prescribed by the Legislature and given here for information only, while the sentence of the defendant is to be decided by the judge.

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

This case is being handled by the Office’s Securities and Commodities Fraud Task Force. United States counsel Nicholas Folly and Jared Lenow handled the case.

[1] As stated in the preamble, the entire text of the Complaint, and the explanation of the Complaint set forth herein, are allegations only, and each fact is explained that it should be treated as a complaint.

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