A New York federal court added a $45.1 million penalty against founder Eddy Alexandre, whose firm promised investors weekly returns of up to 9.99%

A federal court has ordered Eddy Alexandre and his firm EminiFX Inc. to pay more than $288 million for operating a commodity pool Ponzi scheme that promised investors outsized weekly returns from crypto and forex trading, the Commodity Futures Trading Commission announced on October 19.

The amount includes a civil monetary penalty of more than $45.1 million imposed in a final judgment issued October 8 by US District Judge Valerie Caproni of the Southern District of New York. The order also permanently bars Alexandre and EminiFX from trading commodity interests.

The final judgment builds on a summary judgment granted in August 2025, which ordered Alexandre and EminiFX to pay $228,576,962 in restitution, jointly and severally, and required Alexandre to pay $15,049,500 in disgorgement, according to The Block . Restitution payments made by Alexandre offset the disgorgement amount.

Together with the $45.1 million penalty, the civil monetary obligations total more than $288 million. Alexandre and EminiFX are jointly and severally liable for the penalty.

Between September 2021 and May 2022, EminiFX attracted more than 25,000 investors, many from New York’s Haitian-American community, court findings show . Alexandre marketed the firm as an “investment club” and promised guaranteed weekly returns of 5% to 9.99% through a proprietary “Robo-Advisor Assisted Account” trading system.

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Investors pledged at least $262 million, while the firm’s actual trading produced net losses of more than $49 million. The court found Alexandre paid earlier investors with newer investors’ funds and moved at least $15 million to personal accounts, including payments for luxury vehicles.

The CFTC filed its civil action in May 2022. Alexandre separately pleaded guilty to commodities fraud in a parallel criminal case and was sentenced to nine years in prison, with more than $213 million in restitution ordered in that case.

A court-appointed receiver controls EminiFX’s assets, and distribution plans for victims were approved in January 2025.