On August 19, 2025, U.S. District Judge Valerie Caproni granted the Commodity Futures Trading Commission (CFTC)’s September 2024 motion for summary judgment against Eddy Alexandre and EminiFX, ordering $228,576,962 in restitution to victims and $15,049,500 in disgorgement from Alexandre, offset by restitution payments, per,,. The ruling follows Alexandre’s February 2023 guilty plea to commodities fraud, a July 2023 sentencing to nine years in prison, and a $213M criminal restitution order, per.
The court dismissed Alexandre’s objections to the restitution and disgorgement amounts as “incomprehensible,” noting his argument about the Receiver’s failure to use Generally Accepted Accounting Principles (GAAP) lacked explanation or relevance, per,. The Receiver’s calculations, based on investor deposits minus withdrawals, were deemed appropriate, per. Collateral estoppel barred Alexandre from denying liability due to his prior guilty plea, per.
EminiFX, operating from September 2021 to May 2022, defrauded over 25,000 investors of $262M by promising 5–9.99% weekly returns through nonexistent AI-driven trading, per,. Alexandre misappropriated at least $15M for personal use, including luxury cars like a BMW and Mercedes-Benz, per. The platform lost money in 24 of 30 weeks, with a peak reported return of 9.98% versus an actual 2.28%, per. The Receiver recovered $173M by May 2023, distributing $87.8M to victims by August 2025, per.
Investors should monitor updates via the EminiFX Receiver’s website or cftc.gov. Bitcoin (BTC) ($113,234) and Ethereum (ETH) ($4,070) remain unaffected, per CoinMarketCap, but the case underscores crypto Ponzi risks, per. Diversify into USDC or ETH with stop-losses below BTC’s $112,000, per TradingView. Follow @TheBlock__ on X for updates. Ongoing asset recovery may increase victim payouts, but full restitution is uncertain, per. X posts from @CryptoLawyerz suggest broader CFTC enforcement in 2026, per.
