According to Odaily Planet Daily, New York man Eddy Alexandre and his company, EminiFX, were sued by the U.S. Commodity Futures Trading Commission (CFTC) for fraud and ordered to pay $228 million in damages. Alexandre illegally raised approximately $59 million from investors for forex and cryptocurrency trading, but misappropriated much of the funds to purchase luxury cars and other luxury goods. In addition to civil penalties, Alexandre also faced criminal charges, pleaded guilty, and was sentenced to nine years in prison. The case involved thousands of investors, resulting in total losses exceeding $49 million. (The Block)