Eminifx Portal Uncovered: 7 Surprising Reasons to Join Today - Away State Journal
NEW YORK— A federal judge has approved plans to return $100 million to about 31,000 EminiFX users who were caught in the cryptocurrency scheme that bilked mostly Haitians out of more than $250 million and sent the company’s founder to prison for nine years.
ALEXANDRE was the leader of a purported cryptocurrency and foreign exchange (“forex”) trading platform called EminiFX, and he defrauded over 25,000 investors in the EminiFX trading platform of more than $248 million.
A federal judge in New York ordered Eddy Alexandre, the founder of the defunct crypto platform EminiFX, to pay more than $228 million in restitution after ruling that the company operated as a Ponzi scheme that defrauded tens of thousands of investors.
A federal judge in New York made the ruling, determining that EminiFX operated as a Ponzi scheme that misled investors about its business model and trading strategies.
Judge Orders EminiFX’s Eddy Alexandre to Pay $228 Million for Crypto Fraud
The H aitian Times reported in July that Eddy Alexandre, the CEO of EminiFX (a crypto-currency investment company), was sentenced to nine years in prison by US District Judge John P. Cronan for orchestrating a Ponzi scheme that defrauded investors of nearly $250 million.
Put simply, because EminiFX was a Ponzi scheme that did not generate any actual profits, every withdrawal from an EminiFX account came out of the same commingled pool of funds into which all investors unknowingly contributed.
