CFTC Secures $288 Million Judgment Against EminiFX and Eddy Alexandre for Commodity Pool Ponzi Scheme

The Commodity Futures Trading Commission announced that the U.S. District Court for the Southern District of New York has granted its motions for summary judgment, injunctive relief, and civil monetary penalty against Eddy Alexandre and EminiFX Inc.

The orders require payment of $228,576,962 in restitution to defrauded investors, disgorgement of $15,049,500 in unlawful gains offset by restitution amounts, and a $45,148,500 penalty. These stem from the CFTC’s complaint filed May 12, 2022.

Fraudulent Operation and Court Findings

EminiFX held itself out as an investment club offering easy access to cryptocurrency and Forex trading. Over eight months of operation, tens of thousands of investors contributed more than $262 million. The firm reported returns of 5% to 9.99% per week.

In reality, EminiFX sustained net losses exceeding $49 million. At least $15 million of investor funds were misappropriated by Alexandre for his personal use. The court stated: “Simply put, EminiFX was a Ponzi scheme, and investors’ decisions to give their money to [d]efendants was predicated entirely on fraudulent misrepresentations.”

Recoveries, Distribution, and Parallel Proceedings

A court-appointed receiver recovered and has distributed millions in assets. As of July 2026, over $98 million has been returned to more than 28,000 investors. The CFTC noted that such orders do not guarantee full recovery if defendants lack sufficient funds or assets.

Alexandre is serving a nine-year prison sentence from a parallel criminal action by the U.S. Attorney’s Office for the Southern District of New York.

Reporting: CFTC Enforcement Actions

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