Cryptocurrency and Forex Trading Platform CEO sued over $ 59 million fraud

Demien Williams, attorney for the Southern District of New York, and Michael J., assistant director of the New York Field Office of the Federal Bureau of Investigation. Driscol announced today that he has filed a lawsuit against Manhattan Federal. Eddie Alexander, the leader of the Crypto and Foreign Trade Forum, known for its fraudulent goods and wire fraud, has been charged with embezzling more than $ 59 million from hundreds of individual investors after fraudulently representing the EminiFX trading platform. Alexander, who was arrested this morning, will appear before U.S. District Court Judge Catherine H. Parker this morning.

“Eddie Alexander has promised to raise more than $ 59 million for his clients,” said US lawyer Demien Williams, speaking on behalf of his own IminiXX business platform. In fact, Alexander was accused of embezzling very little of his money – most of which he lost – and transferred most of his personal expenses to his personal account. As with any financial market, foreign currencies offer high returns, but investors need to be careful about the risks of a false claim and often come up with quick plans as they are very good to be true.

FBI Assistant Director Michael J. “According to the indictment, Mr. Alexander has demanded millions of dollars from investors who do not know how to use the new technology to get a 5% return on a weekly basis.” . Like many of his predecessors, he made significant strides in investing his time in luxury. Today’s move underscores the FBI’s determination to prosecute fraudsters such as Alexander and to protect them from the consequences of their actions in the federal criminal justice system.

The case is being re-assigned to another judge, and the case is being re-assigned to another judge[1]:

A.D. From September 2021 to May 2022 or so, Alexander, EminiFX, Inc. “EminiFX” is an investment platform founded by Alexander and has raised over $ 59 million. Hundreds of individual investors. By offering Alexander Imini Fax as an investment platform, investors will be able to make investments in cryptocurrency and foreign exchange (“FOREX”) automated investments. Alexander uses the new technology, which he says is confidential, to “guarantee” investors large investment returns. In particular, Alexander lied to investors that they would double their investment within five months of receiving a 5% weekly return on their Robo-Advisor Assisted Account. Alexander refrained from telling investors what the technology was, calling it a “business secret.” Each week, the EminiFX website falsely states that investors have received at least 5% of their investment, which they can withdraw or re-invest.

Fact and Fact, and as Alexander is well aware, EminiFX did not earn 5% of its weekly income for investors. Alexander has not even invested most of his investments, and he has lost more than $ 6 million in limited investments, which he did not disclose to investors. Instead of using the investors’ money as promised, Alexander was able to transfer at least $ 14,700,000 to his personal bank account and invest the maximum amount of money. For example, Alexander used an $ 155,000 investment fund to buy his own BMW car and spent an additional $ 13,000 to invest in cars, including Mercedes Benz.

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Alexander, 50, of Valley Stream, New York, is charged with felony criminal mischief for felony criminal mischief, with a maximum penalty of 10 years in prison and one count of felony criminal mischief for a maximum of 20 years.

Since any defendant’s sentence is upheld by a judge, most sentencing decisions are made by Congress and are for information purposes only.

Mr Williams praised the Federal Bureau of Investigation’s investigation and thanked the Future Trading Commission for its assistance.

The matter is being handled by the Office’s Securities Fraud Task Force. Assistant U.S. Attorney Nicholas Foley and Jared Lennou led the prosecution.


[1] As the introductory phrase indicates, the complaint and the statement of complaint referred to herein only form charges, and each statement must be considered a charge.

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