A federal court has ordered Eddy Alexandre and his cryptocurrency fund, EminiFX Inc., to pay a $45.1 million penalty to the US Commodity Futures Trading Commission (CFTC). The ruling follows a case that exposed a Ponzi scheme primarily targeting Haitian-American investors in New York. The court's final judgment, issued on October 9, 2026, also permanently bars Alexandre and his firm from engaging in any transactions involving commodity interests.
According to Judge Valerie E. Caproni, the fraudulent scheme led to significant financial harm, with Alexandre and EminiFX jointly and severally liable for almost $229 million in restitution. The court imposed additional injunctive relief as part of the penalty, emphasizing the severity of the fraud.
The case highlights the ongoing risks of cryptocurrency-related scams and the CFTC's efforts to protect investors from such schemes. The penalty and restitution orders aim to address the financial losses incurred by the victims, many of whom were from the Haitian-American community.