Founder of cryptocurrency and forex trading platform EminiFX sentenced to $228 million in compensation for Ponzi scheme According to a ruling by the Federal Court in New York, Eddy Alexandre, founder of cryptocurrency and forex trading platform EminiFX, has been ordered to repay over $228 million for operating a Ponzi scheme to defraud tens of thousands of investors. In addition, he also needs to pay $15 million in illegal profit compensation. EminiFX was founded in 2021, claiming to provide weekly returns of 5% -9.99% through a "robo advisor account", but actually incurred losses of at least $49 million and did not use its advertised technology. Alexandre is accused of embezzling at least $15 million for personal expenses, including credit card bills, luxury cars, and cash withdrawals. Previously, he had pleaded guilty in a criminal case and was sentenced to 9 years in prison, while also paying $213 million in compensation. The court appointed receiver has begun distributing recovered funds to the victims.