Crypto, Forex Platform CEO Pleads Guilty to $248M Fraud Scheme

Eddy Alexandre, CEO of purported crypto trading platform EminiFX has pleaded guilty to commodities fraud in a New York district court, agreeing to pay back millions to investors who lost funds to his "cryptocurrency investment scam." The United States Department of Justice (DOJ) announced on Feb. 10 that Alexandre submitted a guilty plea to one count of commodities fraud, and will pay over $248 million in forfeiture along with restitution yet to be specified. Alexandre was arrested and charged in May 2022 over his role in EminiFX and originally pleaded not guilty, but changed his plea on Feb. 10. He faces a maximum sentence of 10 years in prison. (Cointelegraph)

Original Link

Comments

All Comments

Recommended for you

CointimeSG ·

Strong Bitcoin ETF Inflows In Q4

Also MicroStrategy Is Going Vertical And Is The Federal Reserve Turning Dovish?
CointimeSG ·

Helium: A Deep Dive

The Definitive Guide to the DePin King
CointimeSG ·

The Secret Life of Order Types: How Hidden Orders and Dark Pools Shape the U.S. Market

As a U.S.-based crypto trader, you’re probably familiar with market and limit orders—the straightforward way to execute a buy or sell. But beneath the surface lies a world of advanced order types, hidden algorithms, and even secretive trading pools where massive transactions flow without ever appearing on a public exchange.
CointimeSG ·

ON–294: Sui Mega Issue 🌊

Coverage on Network Overview, Bridges, Walrus, SuiNS, Stablecoins and DeepBook
CointimeSG ·

State of OP Mainnet Q3 2024

Optimism (OP) is a Layer-2 network that aims to increase Ethereum’s transaction throughput while decreasing the cost of transacting. This is achieved through an optimistic rollup design. Transactions are executed on OP Mainnet, Optimism’s original network, while relying on Ethereum for settlement, consensus, and data availability.
CointimeSG ·

Why Is the Future of Cardano (ADA)? News Analysis and Price Prediction [2025–2030]

The recent rally of ADA has even surpassed the upward momentum of Bitcoin and meme tokens. Cardano’s founder recently confirmed his involvement in shaping US crypto rules.
CointimeSG ·

Hong Kong to Waive Tax on Crypto Gains for Sophisticated Investors

Hong Kong's proposal also includes tax exemptions to pension and endowment funds, expanding the range of assets covered under existing law.
CointimeSG ·

Ex-Revolut duo raise $2.3 million to build 'blockchain bank account' Bleap

Quick Take Bleap has raised $2.3 million in a pre-seed funding round led by Ethereal Ventures to launch a self-custodial stablecoin payments app. Bleap is currently in beta with select EU users, with a full public deployment scheduled for Q1 2025 and a token launch expected in 2026.
CointimeSG ·

Microsoft breakthrough signals quantum-exclusive future for blockchain mining

The new hardware could ultimately host a theoretical algorithm with the potential to transform proof-of-work.
CointimeSG ·

Tornado Cash Ruling a Boon For Ethereum and DeFi Says 10X Research

While privacy coins as a category have since tapered off, decentralized finance's market cap has jumped 8.2% on the day.