Quick Recap
- EminiFX Founder Eddy Alexandre scammed over 25,000 people with a fake crypto trading platform and has now been ordered to repay $228 million.
- He’s serving a nine-year prison sentence and used investor funds to fund a lavish lifestyle.
- Victims have started to receive partial repayments as the court recovers and redistributes what’s left.
EminiFX Founder Built a Lie That Looked Like a Crypto Dream
At first glance, EminiFX seemed like the kind of crypto opportunity people dream about. Slick marketing, weekly profits of up to 10%, and a “robo-trading” system that promised to do all the work for you. Thousands of people bought in.
However, everything was smoke and mirror behind the curtain. This week, a federal judge ordered Eminifx founder Dedi Alexandre to ordered the victims of the victims to repay the victims of the victims as a large -scale Ponji scheme.
That’s on top of the $15 million he’s been told to give up money he pocketed from the fraud.
This decision provides much-needed justice to a large number of investors.
For Alexandre, it’s just the latest chapter in a legal saga that’s already landed him in prison for nine years.
EminiFX Founder Promised Easy Crypto Profits, But It Was All Fake
Alexandre made an enticing pitch when she started EminiFX in 2021. You could earn 5% to nearly 10% profits every single week, just by letting the company’s automated system trade crypto and forex for you.
It sounded smart. It sounded high-tech. It sounded like easy money. But it wasn’t real. There was no “robo-advisor.” The company lost money almost every week it operated at least $49 million in total.
And instead of trying to fix it, EminiFX Founder Eddy Alexandre started spending the money. He used over $15 million of investors’ funds on luxury cars, expensive watches, credit card bills, and massive cash withdrawals.
Worse, when the initial investors asked for their money back, they used new investors’ money to pay them. Classic Ponzi Playbook. It worked for a while. Until it didn’t.
EminiFX Founder Now in Prison While Victims Begin to See Relief
Authorities caught up with Alexandre in May 2022. He was charged by both the CFTC and federal prosecutors. In the criminal case, he pleaded guilty to fraud and was sentenced in 2023 to nine years in federal prison along with a $213 million restitution order.
Now, a separate civil case has led to this $228.5 million judgment, along with $15 million in profits he must return. According to the court, if Alexandre pays anything toward restitution, it will reduce the total amount he owes in disgorgement.
A court-appointed receiver has been trying to recover as much money as possible for the victims. Earlier this year, that receiver started making payments, with some investors receiving up to 55% of their original investment back.
There’s more still to recover. Just last month, the court ordered Alexandre to hand over remaining assets, including two high-end watches worth over $500,000 and up to $5 million in hidden cash. If he refuses, the court could hold him in contempt, even from behind bars.
Crypto Scams Keep Happening Even as Awareness Grows
Even though this case is wrapping up, the bigger issue remains. Crypto scams are still out there, and they’re getting more sophisticated.
In fact, the security firm Carter projects that in the first half of 2025, bitcoin owners will lose almost $2.5 billion due to scams and fraud. While things improved slightly in the second quarter, it is clear that space is still risky.
So what can you do? Be skeptical. Trust your instincts if a platform is offering extremely high returns without providing a thorough explanation of how it operates. Do some research.
