CFTC Secures $228M Restitution Against Crypto Ponzi Leader Alexandre

A federal judge has ordered pastor Eddy Alexandre and his defunct company EminiFX to pay $228.5 million in restitution to over 25,000 investors defrauded in a massive crypto Ponzi scheme. Alexandre promised guaranteed weekly returns of 5% to 10% using a supposed automated trading platform called 'Robo-Advisor Assisted Account (RA3),' but the platform lost money in 24 of its 30 weeks of operation. He exploited trust within his church and Haitian-American community, recruiting investors through sacred relationships, and diverted at least $15 million to personal purchases like luxury cars. The Commodity Futures Trading Commission (CFTC) secured summary judgment in its civil enforcement action following Alexandre's nine-year federal prison sentence for commodities fraud. The ruling included a $15 million disgorgement penalty and was intended to deter similar high-tech frauds disguised as AI or crypto investments targeting vulnerable and financially illiterate groups. Authorities emphasize the necessity of rigorous verification and investor education to protect communities from such schemes.