Odaily News: The founder and CEO of the cryptocurrency and forex trading platform EminiFX, Eddy Alexandre, has been sentenced to nine years in federal prison by a Manhattan federal court in the United States. He was charged with running a cryptocurrency Ponzi scheme, defrauding over 25,000 investors out of a total of $248.8 million.



Eddy Alexandre pleaded guilty to commodities fraud in February of this year and agreed to forfeit $248.8 million and pay restitution.



According to reports, between September 2021 and May 2022, Alexandre promised investors a weekly return of 5% or more on their investments, attracting over 25,000 investors. However, the cryptocurrency and forex platform operated as a multi-level marketing scheme, encouraging existing investors to bring in new users. (Bloomberg)