The Justice Department and Commodity Futures Trading Commission alleged that EminiFX, owned by Eddy Alexandre of New York, was a Ponzi-like scheme that promised participants guaranteed returns of at least 5 percent every single week.
Castleman said his investigation found that $250 million was collected from investors from September 2021 until May 2022 and that there were 62,000 EminiFX user accounts. Emil Bove, an attorney for Alexandre, did not respond to requests for comment. Alexandre entered a plea of not guilty, according to the Justice Department.
Based on Castleman’s forensic look at EminiFX, the sophistication of the platform and its production of what appear to be phantom returns is astounding.
‘Enforcement 40’ for 2020
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