The Commodity Futures Trading Commission (CFTC) announced federal court orders requiring Eddy Alexandre and his company, EminiFX Inc., to pay USD 228,576,962 in restitution and a USD 45,148,500 civil monetary penalty for operating a commodity pool Ponzi scheme. Alexandre must also disgorge USD 15,049,500 in unlawful gains, with any restitution he pays offsetting that obligation. The U.S. District Court for the Southern District of New York granted the CFTC’s motions for summary judgment, injunctive relief and a civil monetary penalty in litigation stemming from its May 2022 complaint. EminiFX collected more than USD 262 million from tens of thousands of investors during eight months of operation, marketing access to cryptocurrency and foreign exchange trading. It reported weekly returns of 5% to 9.99% but incurred net losses exceeding USD 49 million, including at least USD 15 million diverted by Alexandre for personal use. The court found that the defendants misrepresented investment returns and automated trading technology, and failed to register EminiFX as a commodity pool operator and Alexandre as its associated person. A court-appointed receiver had returned more than USD 98 million to over 28,000 investors as of July 2026, and distributions remain ongoing. Repayment orders do not guarantee full recovery because defendants may lack sufficient assets. Alexandre is already serving a nine-year prison sentence following a parallel criminal prosecution for related conduct.

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