CFTC secures $288M judgment against EminiFX for Ponzi scheme

A federal court has ordered Eddy Alexandre and his company, EminiFX, to pay more than $288 million for running a Ponzi scheme. The Commodity Futures Trading Commission (CFTC) brought the case. How the $288 million adds up In August 2025, the court granted the CFTC summary judgment. That ruling awarded $228.58 million in restitution and $15.05 million in disgorgement. On October 8, 2026, a final judgment added a $45.15 million civil monetary penalty. US District Judge Valerie Caproni also imposed permanent bans on Alexandre and EminiFX. Neither can engage in commodities fraud or related activities going forward. Inside the EminiFX operation EminiFX ran from September 2021 to May 2022. In that window, it drew in more than 25,000 investors. Most of them came from the Haitian-American community in New York. EminiFX falsely promised weekly returns of 5% to 9.99%, supposedly powered by trading technology that did not actually exist. The scheme raised more than $262 million. Meanwhile, the actual trading it did conduct produced net losses exceeding $49 million. Alexandre used money from newer investors to pay earlier ones. Investigators also found that Alexandre diverted at least $15 mill...