Crypto Fraudster Pleads Guilty to $250M Scheme

• Eddy Alexandre was accused of running a crypto exchange and defrauding investors out of nearly $250 million.
• He promised guaranteed returns through “secret technology” and didn’t invest the funds in cryptocurrencies as he claimed.
• U.S. attorney Damian Williams issued a statement warning cryptocurrency executives that misconduct in the crypto markets will be prosecuted.

Eddy Alexandre Pleads Guilty to Crypto Fraud Scheme

Eddy Alexandre, a man from New York, pleaded guilty in February this year after conducting an illegal crypto fraud scheme that stole almost $250 million from investors. The fraud was conducted between September 2021 and May 2022, through a company called Emini FX.

False Promises

Alexandre falsely promised investors exclusive access to passive income through an automated trading system for both forex and cryptocurrencies, claiming he could guarantee them weekly returns of at least 5%, which is impossible with the volatility of the market. He also promised to double their money within five months by investing through his „Robo-Investment“ platform.

Warning From US Attorney

Damian Williams, the U.S. attorney for the Southern District of New York issued a statement saying any misconduct in the crypto markets will be prosecuted severely and warned other cryptocurrency executives: “Eddy Alexandre admitted today to luring investors to his cryptocurrency investment scam by fabricating weekly returns of at least five percent…His scam caused investors to lose millions of dollars.“

Millions Of Dollars Lost

Alexandre’s promises were too good to be true, as he failed to invest a substantial portion of investors‘ money and even used some funds for personal purchases, resulting in thousands losing out on their investments all together totaling up to millions of dollars lost .


This case should act as an example that misconduct in the crypto markets won’t go unpunished or unnoticed by authorities who are closely watching these activities now more than ever before.