The founder of the cryptocurrency and forex trading platform EminiFX has been sentenced to nine years in prison for fraud

2023-07-19 10:11:02

Collection

ChainCatcher news, according to Bloomberg, the Manhattan federal court has sentenced Eddy Alexandre, founder and CEO of the cryptocurrency and forex trading platform EminiFX, to nine years in prison for operating a cryptocurrency Ponzi scheme, defrauding over 25,000 investors of more than $248 million through his cryptocurrency and forex platform. The sentence was handed down more than four months after the cryptocurrency fraudster pleaded guilty to commodity fraud.

Previous report, Alexandre was accused of raising funds from tens of thousands of investors. Between September 2021 and May 2022, Alexandre attracted over 25,000 investors by offering an enticing return of 5% per week, netting over $248 million. His cryptocurrency and forex platform operated as a multi-level marketing scheme, encouraging old investors to recruit new users for the platform.

(Source Link)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.