The FBI has detained the CEO of a New York crypto firm and accused him of fraud
On Thursday, the FBI arrested the CEO of a New York City cryptocurrency firm and accused him of conducting a $59 million fraud operation.
Eddy Alexandre, 50, of Valley Stream, New York, has been accused of defrauding hundreds of investors through his EminiFX trading platform between September 2021 and May 2022, according to a criminal complaint filed in Manhattan federal court.
“Eddy Alexandre allegedly enticed his customers to spend over $59 million with promises of enormous passive income returns using his own proprietary trading platform called EminiFx,” stated US Attorney Damian Williams in the complaint.
According to Assistant Director-in-Charge of the FBI Michael J. Driscoll, “Alexandre solicited millions of dollars from unknowing investors to whom he ‘assured’ weekly profits of 5 percent via his trading platform utilising a new technology he failed to reveal.
Alexandre refused to provide any information about his “trade secret” invention to potential investors. According to Williams, there was no such technology in the actual world.
Claims that Alexandre invested little of the money, and moved a large portion of it to his own personal accounts for expensive purchases, are made in the lawsuit. If convicted, Alexandre may face up to 30 years in jail for wire fraud and commodities fraud.