New York Judge Orders EminiFX Crypto Fraud Ringleader to Pay $228 Million in Fines
According to ChainCatcher, citing TheBlock, in 2022 the CFTC charged New York resident Eddy Alexandre and his company EminiFX, Inc., alleging that he raised $59 million from thousands of users for forex and cryptocurrency trading, and misappropriated a significant portion of the funds.
On Tuesday of this week, New York District Judge Valerie Caproni granted the Commodity Futures Trading Commission’s motion for summary judgment, ordering Alexandre and EminiFX to jointly and severally pay a total of approximately $228 million in restitution and to return $15.0495 million in illicit gains.
The U.S. Attorney’s Office for the Southern District of New York stated that Alexandre also faces criminal charges, has pleaded guilty, and has been sentenced to nine years in prison.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Altcoin FET Forms a Bearish Pennant on the 4-Hour Price Chart, How Far Will it Fall?
Meta's self-developed AI chips to be deployed in the first half of next year, aiming to reduce costs and dependence on Nvidia
Meta’s third-generation in-house AI chip, MTIA 450, will begin deployment in data centers in the first half of next year, with the fourth generation expected to enter data centers by the end of 2027. Meta’s commitment to deploying its in-house chips over the next 12 months now exceeds the energy equivalent of 1 gigawatt. According to Meta's Vice President of Engineering, Yee Jiun Song, compared with current products shipped by Nvidia, Meta’s in-house chips are more efficient and consume less power when running AI models.
CareRx Renews Normal Course Issuer Bid
DoorDash Invests $125M in Wonder, Bringing Together Key Delivery Players -- Update
Crypto prices
More
