Breaking NewsDiasporaEconomicsElsewhereLifeMoneyPeoplePolitics

Long Island Haitian man charged in $59M crypto Ponzi scheme


Eddy Alexandre could face a maximum of 30 years in prison for defrauding investors. Photo from case affidavit.

NEW YORK — Eddy Alexandre, a Valley Stream, NY, resident was charged last week on suspicion of orchestrating a fraudulent cryptocurrency scheme that drew more than $59 million from hundreds of investors, many of them fellow Haitian-Americans.

Prosecutors with the United States Attorney’s Office for the Southern District of New York said Alexandre, 50, persuaded clients to invest large amounts of money via his trading platform, EminiFx. He transferred most of the money to his bank accounts and used it to purchase luxury goods, including a BMW and Mercedes, for himself.

“It appears that the only way that EminiFx can fund investor withdrawals is by using the funds of existing investors, or the funds of new investors, in a Ponzi-like fashion,” according to the affidavit. “[Alexandre] solicited millions of dollars from unwitting investors to whom he ‘guaranteed’ weekly returns of 5% through his trading platform using a new technology he refused to disclose.”

To view the full story, please subscribe to The Haitian Times. You can choose a $60 Annual Subscription or a $5 Weekly Pass.

When you join The Haitian Times family, you’ll get unlimited digital access to high-quality journalism about Haiti and Haitians you won’t get anywhere else. We’ve been at this for 20 years and pride ourselves on representing you, our diaspora experience and a holistic view of Haiti that larger media doesn’t show you. 

Join now or renew to get:
— Instant access to one-of-kind stories and special reports 
— Local news from our communities (especially New York and Florida)
— Profiles of Haitians at the top of their fields
— Downloadable lists and resources about Haitian culture 
— Membership merch, perks and special invitations 

First-time subscribers also receive a special welcome gift handmade in Haiti by expert artisans! Do it for the culture and support Black-owned businesses.

If you’re seeing this message but you’re already a subscriber, you can log in for immediate access to this story.


What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

Comments are closed.