Home -
Broker -
Main body -

WikiFX Express

Exness
TMGM
EC markets
XM
FXTM
FOREX.com
AVATRADE
GTCFX
IC Markets Global
D prime

WIKIFX REPORT: Eddy Alexandre of EminiFX charged in $60M ‘double your money’ digital asset scam

EminiFx | 2022-06-21 12:10

Abstract:The Department of Justice (DoJ) has charged a New York man with commodities and wire fraud after he allegedly defrauded hundreds of investors in a 'double your money' digital asset scheme. The Department of Justice claims that the guy stole $59 million from his investors while professing to invest in digital assets and foreign exchange markets.

eddy-alexandre-of-eminifx-charged-in-60m-double-your-money-digital-asset-scam-min.jpg

A New York man accused of defrauding thousands of investors in a ‘double your money’ digital asset scam has been charged by the Department of Justice (DoJ) with commodities and wire fraud. DoJ alleges that the man made off with $59 million from his investors, claiming to invest in digital assets and the foreign exchange markets.

From September 2021 until the DoJ got a hold of him this month, Eddy Alexandre was allegedly operating EminiFX, a company that claimed to trade in the digital assets and forex spaces. He lured investors with promises of guaranteed passive returns, which his own proprietary trading technology would generate, authorities said.

Specifically, the New Yorker claimed that he could double an investors money in five months through 5% weekly returns on investment using a “Robo-Advisor Assisted account” to conduct trading. He told the clients that the technology was his trade secret and refused to talk about it with anyone.

When investors logged onto the EminiFX website, they saw that their portfolios were getting bigger each week and that the advertised returns had materialized. However, this was a result of Alexandre tampering with the site, not from the actual results of the companys trading activities.

As the DoJ alleges, Alexandre didnt even invest most of his money. And on the small amount that he invested, he made a $6 million loss, which he concealed from investors.

Most of the money he raised was directed toward his personal uses. The DoJ approximates that he sent $14.7 million to his personal bank account. He used $155,000 on a new BMW car and about $13,000 on car payments for other cars, including a Mercedes Benz.

“Eddy Alexandre allegedly induced his clients to invest over $59 million with promises of huge passive income returns via his own proprietary trading platform called EminiFx,” United States Attorney for the Southern District of New York Damian Williams commented.

“In reality, no such technology existed, as Alexandre is alleged to have invested very little of their money – most of which he lost – and transferred most of it to his own personal accounts to pay for luxury items for himself.”

DoJ has charged the 50-year-old Valley Stream, New York native, with one count of commodities fraud, which comes with a 10-year prison sentence, and one count of wire fraud which could land him in prison for 20 years.

BrokerDealerForex tradingForex BrokerForex news

Related broker

Not Regulated
EminiFx
Company name:EminiFx, Inc
Score
1.47
Website:https://eminifx.com
2-5 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk
Score
1.47

Read more

IVISION Exposure Report: Poor Withdrawals & Account Freeze Instances

IVISION, a Saint Lucia-based trading firm, mostly receives negative reviews from users. They claim that the broker’s withdrawal process is a scam, a deliberate attempt to defraud investors. At the same time, some traders have complained of an account freeze by the brokerage entity upon withdrawals. We have investigated user complaints in this IVISION review article. Keep reading.

Original 2026-04-27 22:55

Ubuntu Markets Review 2026: Are Withdrawal Denials & Deposit Pressure Real?

Has your experience worsened with Ubuntu Markets after you requested withdrawals with the South Africa-based forex broker? Despite good trading, did you have to wait for a long time to access funds? Were you handled by several incompetent account managers who only cared for deposits and not your returns? These are no longer just issues; they have been converted into full-fledged complaints against the forex broker. In this Ubuntu Markets review article, we have examined a series of allegations against the brokerage entity.

Original 2026-04-27 21:06

BAAZEX Regulation: Is This Forex Broker Licensed And Safe?

Verify BAAZEX regulation and license status. Secure your BAAZEX login and explore Forex BAAZEX trading conditions with high-intent data. Check WikiFX today.

Original 2026-04-27 17:04

Land Prime Deposit and Withdrawal Methods: A Guide to Fees, Processing Times & User Experiences

For any trader, knowing how to move funds into and out of a trading account is essential. A smooth, clear, and reliable fund transfer process builds trust. Land Prime offers what appears to be a standard set of options for both deposits and withdrawals, serving customers worldwide with traditional banking, credit cards, and modern digital wallets. This section will explain the official information as presented by the broker. It serves as a factual starting point, detailing the methods, their stated costs, and the processing times you should expect according to their documentation. This is the process as it is advertised, providing a clear reference point before we examine how well it actually works in real life. Understanding these official terms is the first step in evaluating the broker's fund transfer system.

Original 2026-04-27 17:03

WikiFX Express

Exness
TMGM
EC markets
XM
FXTM
FOREX.com
AVATRADE
GTCFX
IC Markets Global
D prime

WikiFX Broker

FXTM

FXTM

Regulated
ATFX

ATFX

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
EBC FINANCIAL GROUP

EBC FINANCIAL GROUP

Regulated
EC markets

EC markets

Regulated
FXTM

FXTM

Regulated
ATFX

ATFX

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
EBC FINANCIAL GROUP

EBC FINANCIAL GROUP

Regulated
EC markets

EC markets

Regulated

WikiFX Broker

FXTM

FXTM

Regulated
ATFX

ATFX

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
EBC FINANCIAL GROUP

EBC FINANCIAL GROUP

Regulated
EC markets

EC markets

Regulated
FXTM

FXTM

Regulated
ATFX

ATFX

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
EBC FINANCIAL GROUP

EBC FINANCIAL GROUP

Regulated
EC markets

EC markets

Regulated

Latest News

Blueberry Markets Review: Examining the Latest User Complaints in 2026

WikiFX
2026-04-25 19:56

MSquare Review 2026: Is this Forex Broker Legit or a Scam?

WikiFX
2026-04-25 09:00

The MSquare Review: Forged Blockchain Receipts, Frozen Accounts, and Severe Anomalies Exposed

WikiFX
2026-04-27 11:30

How Trading Volume Tells You If a Price Move is Real

WikiFX
2026-04-27 11:30

Why Judging Trades by Profit Teaches the Wrong Lesson

WikiFX
2026-04-27 11:30

EC Markets Reports Record $5.13 Trillion Q1 Volume in 2026

WikiFX
2026-04-27 11:00

When Scammers Forge a Minister's Signature: Malaysia's Fake Investment Letter Exposed

WikiFX
2026-04-27 11:49

Malaysia Takes Aim at Online Scams: New Laws and a Unified Task Force on the Horizon

WikiFX
2026-04-27 12:03

AI Powered, Nearly Invisible: How Crypto Scammers Are Evolving with NEW Tactics

WikiFX
2026-04-27 12:12

ROCO Regulation: Is ROCO Broker Safe for Forex Trading?

WikiFX
2026-04-27 14:48

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

LETS GO TRADE PRIME

LETS GO TRADE PRIME

SAFE TRADE INVESTMENT

SAFE TRADE INVESTMENT

SecureFXT

SecureFXT

Qantum Xchange Mobile

Qantum Xchange Mobile

COINVEST GLOBAL FINANCE

COINVEST GLOBAL FINANCE

prometheus markets

prometheus markets

Deson Metals

Deson Metals

ASTRID GLOBAL INVESTMENT

ASTRID GLOBAL INVESTMENT

THANGALS GOLD LLC

THANGALS GOLD LLC

COPY VEST PRO

COPY VEST PRO