Founder of cryptocurrency trading platform EminiFX arrested in connection with $59 million fraud
On November 7th, Damian Williams, the prosecutor for the New York area, and Michael J. Driscoll, the head of the FBI's New York office, announced that an unsealed indictment in the Manhattan federal court charged EDDY ALEXANDRE, the founder of EminiFX, with commodity fraud and telecommunications fraud. It is alleged that ALEXANDRE defrauded hundreds of individual investors of more than $59 million through his so-called cryptocurrency and forex trading platform, EminiFX. ALEXANDRE was arrested this morning and will appear before Southern District of New York Judge Katharine H. Parker later today. According to the indictment, ALEXANDRE used EminiFX's undisclosed "new technology" and promised high returns as bait to induce clients to invest. However, this technology does not actually exist, ALEXANDRE only invested a small portion of the funds (most of which were lost), and transferred most of the funds to his personal account to purchase luxury goods. ALEXANDRE faces a maximum sentence of 10 years in prison for commodity fraud and 20 years in prison for telecommunications fraud.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Chinese Analyst Assesses Ethereum’s Status, Says “Whales Have Run Out of Purchasing Power” – Here’s What He Expects
Chinese cryptocurrency analyst phenomenon Murphy evaluated the latest status of Ethereum in his statement. Here are the details.
Skipped Bitcoin Cash? Qubetics ($TICS) Could Be Your Redemption Ticket – Top Cryptos for Significant Returns
The crypto market has been on fire lately. With the spotlight shifting to new and innovative blockchain projects, everyone’s eyes are on which cryptos will make waves this year.Bitcoin Cash: A Missed Opportunity for Significant ReturnsQubetics: Revolutionizing Digital Finance with Real-World Asset TokenizationConclusion: Time to Act on Qubetics
BTC Short Position by ETH Whale Nears $332M
A crypto whale boosts their BTC short position to $332M, facing losses and potential short squeeze risk.Whale Boosts BTC Short Position Amid Market VolatilityRisk of Liquidation LoomsStrategic Buy Orders Placed

Pakistan Launches Crypto Council Led by Finance Minister
Pakistan forms Crypto Council to boost blockchain and crypto adoption, chaired by Finance Minister Muhammad Aurangzeb.Pakistan Takes a Bold Step Toward Crypto AdoptionFinance Minister to Lead the InitiativeFocus on Innovation and Financial Inclusion

Trending news
MoreCrypto prices
More








