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CFTC Press Releases·

CFTC Secures Federal Court Orders Requiring Former Long Island Resident and His Firm to Pay Over $288 Million for Operating a Commodity Pool Ponzi Scheme

  • The U.S. District Court for the Southern District of New York granted CFTC motions for summary judgment, injunctive relief, & a civil penalty against Eddy Alexandre & his firm EminiFX Inc.
  • The court ordered the defendants to pay $228,576,962 in restitution, disgorge $15,049,500 in unlawful gains, & pay a $45,148,500 penalty.
  • EminiFX operated as a Ponzi scheme for eight months, collecting over $262 million from tens of thousands of investors through fraudulent claims of 5% to 9.99% weekly returns.
  • The firm actually suffered net losses exceeding $49 million, with at least $15 million of those losses attributed to Alexandre's personal misappropriation of funds.
  • As of July 2026, a court-appointed receiver has recovered & returned over $98 million to more than 28,000 investors.
  • Alexandre is currently serving a nine-year prison sentence resulting from a parallel criminal action by the U.S. Attorney's Office.