The Commodity Futures and Trading Commission (CFTC) is moving the Court to imposes a heavy penalty on EminiFX and Eddy Alexandre.
On September 25, 2025, the CFTC filed a Motion for Permanent Injunction and Civil Monetary Penalty against the defendants.
The document, seen by FX News Group, states that the defendants must pay a civil monetary penalty in the amount of forty-five million one hundred and forty-eight thousand and five hundred dollars ($45,148,500).
In May 2022, the CFTC filed a six-count complaint alleging Alexandre, individually and as principal and agent of EminiFX, Inc., fraudulently solicited and accepted more than $200 million from pool participants for a pooled investment vehicle in commodity interests and misappropriated millions of dollars of participant funds.
The defendants accepted funds from hundreds of people to purportedly trade Forex and cryptocurrencies, as well as futures and options, in an investment club. The defendants guaranteed customers returns of 5% per week.
In fact, the defendants’ used only approximately $9 million of customers’ funds to trade forex and cryptocurrency in an account in Alexandre’s name. Alexandre lost nearly 70% of that amount —approximately $6.2 million—through unprofitable trading and fees.
The CFTC complaint alleged the defendants also misappropriated substantial amounts of the remaining customer money by sending it to accounts in Alexandre’s name, using it to pay other customers in a Ponzi-like scheme, and using it for Alexandre’s personal expenses.
Alexandre subsequently pleaded guilty to criminal charges based on the same underlying conduct, and on July 25, 2023, a criminal judgment was entered against Alexandre, finding him guilty of commodities fraud under 7 U.S.C. §§ 9(1) and 13(a)(5) and 17 C.F.R. § 180.1.
