{"id":43294,"date":"2025-08-21T06:16:34","date_gmt":"2025-08-21T06:16:34","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=43294"},"modified":"2025-08-21T06:16:34","modified_gmt":"2025-08-21T06:16:34","slug":"crypto-ponzi-scheme-ruling-eminifx-founder-ordered-to-repay-228-million","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=43294","title":{"rendered":"Crypto Ponzi Scheme Ruling: EminiFX Founder Ordered To Repay $228 Million"},"content":{"rendered":"
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Yesterday, a federal judge in New York ordered Eddy Alexandre, founder of the now-defunct cryptocurrency platform EminiFX, to pay $228 million in restitution for orchestrating a Ponzi scheme that defrauded tens of thousands of investors.<\/p>\n

EminiFX CEO To Pay $228 Million In Restitution<\/h2>\n

According to a court filing published on August 19, US District Judge Valerie Caproni ruled that Alexandre and EminiFX must repay $228 million in restitution along with $15 million in disgorgement. The ruling stated:<\/p>\n

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Defendants Alexandre and EminiFX are jointly and severally liable to pay restitution in the total amount of $228,576,962. Defendant Alexandre is liable to pay disgorgement in the amount of $15,049,500.<\/p>\n<\/blockquote>\n

The US Commodity Futures Trading Commission (CFTC) secured the summary judgment more than three years after Alexandre was first charged. In a separate 2023 criminal case, the former entrepreneur pleaded guilty to commodities fraud.<\/p>\n

For background, EminiFX was founded in 2021, raising over $262 million in just about eight months. In the same duration, the platform attracted more than 25,000 investors looking for quick returns.<\/p>\n

The platform claimed it could deliver 5% to 9.99% in weekly returns through a so-called \u201cRobo-Advisor Assisted Account.\u201d This account allegedly relied on automated strategies for trading in crypto and forex markets.<\/p>\n

Court filings revealed<\/a> that EminiFX suffered net losses of at least $49 million. The platform also never deployed the trading technology it advertised to investors. Investigators found that\u00a0Alexandre diverted at least $15 million for personal use, covering credit card bills, luxury cars, and cash withdrawals. At the same time, investor payouts were funded with money from new participants, a classic trait of Ponzi schemes.<\/p>\n

Judge Caproni\u2019s order finally brings the EminiFX case to a close, requiring Alexandre to pay $228 million in restitution. The order also states that any payments toward restitution will offset his disgorgement obligation.<\/p>\n

\"case\"<\/p>\n

Crypto Scams On A Steady Rise<\/h2>\n

Despite tighter regulations and enhanced security measures, scams and fraud continue to plague the crypto industry. In May 2025, law authorities arrested<\/a> an individual from Wellington, New Zealand, for association with a $265 million crypto scam.<\/p>\n

A month earlier, a Brazilian court punished<\/a> a leader of a crypto Ponzi scheme syndicate by sentencing him to 128 years in prison. The Ponzi scheme promised its investors guaranteed returns of 8% per month.<\/p>\n

A report earlier this month noted<\/a> that the crypto industry lost a whopping $3.1 billion to hacks during the first half of 2025. This is an increase of almost 100% compared to losses incurred during the first half of 2024.<\/p>\n

Meanwhile, US prosecutors in Nevada indicted<\/a> a Las Vegas business owner in connection with a multimillion-dollar crypto fraud earlier this year. At press time, BTC trades at $114,242, up 0.2% in the past 24 hours.<\/p>\n

\"bitcoin\"<\/div>\n","protected":false},"excerpt":{"rendered":"

Yesterday, a federal judge in New York ordered Eddy Alexandre, founder of the now-defunct cryptocurrency platform EminiFX, to pay $228 million in restitution for orchestrating a Ponzi scheme that defrauded tens of thousands of investors. EminiFX CEO To Pay $228 Million In Restitution According to a court filing published on August 19, US District Judge […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-43294","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/43294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43294"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/43294\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}