Eddy Alexandre will spend his life behind bars for 10 years over his involvement in a very big crypto & forex ponzi investment scheme.
Eddy Alexandre was CEO of suspicious crypto & forex trade platform EminiFX. Reportedly this exchange was offering a 5% weekly return to the customers. Exchange successfully collected $248 million investments from tens of thousands of individual investors. Allegedly, Eddy used those investment funds for personal benefits, instead of another project or practical business investment.
Recently the US Department of Justice (DOJ) announced that Eddy submitted a guilty plea to one count of commodities fraud and also he promised to pay over $248 million along with restitution yet to be specified back to the investors.
Eddy was arrested in May of the last year and reported he ran his suspicious Crypto trade platform between September 2021 to May 2022, to collect funding from customers. Now for all such fraud charges, he will face 10 years of jail punishment.
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As per fraud charges, Eddy used $14.7 million funds to deposit in his bank account and he used $155,000 to buy a BMW car. In short, all the funds were supposedly in the hand of Eddy for personal benefits alongside running his money rotation scheme, which was a scam. Through his illegal services, he violated the Commodity laws.
In the New York court, all charges have been proved against him and also Eddy admitted the crime that he did with the help of his suspicious crypto platform but still many customers of his crypto trade platform supported him.
One of the EminiFX investors said that Eddy faced fraud charges because of his looks and further he described all such legal actions as a part of racism.
Read also: Ark Invest CEO says US scrutiny is good for Crypto decentralisation
Crypto company EminiFX CEO pleads guilty to a $248M fraud
https://bitcoinik.com/crypto-company-eminifx-ceo-pleaded-guilty-to-a-248m-fraud/feed/
https://bitcoinik.com/crypto-company-eminifx-ceo-pleaded-guilty-to-a-248m-fraud/feed/
