CFTC Secures Court Orders Against EminiFX Over Commodity Pool Ponzi Scheme

The Commodity Futures Trading Commission said a federal court in the Southern District of New York granted its requests for summary judgment, injunctive relief and a civil monetary penalty against Eddy Alexandre and EminiFX Inc. The agency described EminiFX as a commodity-pool Ponzi scheme that marketed access to cryptocurrency and foreign-exchange trading.

According to the CFTC, the resulting orders require $228,576,962 in restitution, disgorgement of $15,049,500 subject to offsets for restitution paid, and a $45,148,500 penalty. The release says that, during EminiFX’s eight months of operation, tens of thousands of investors contributed more than $262 million while the business reported weekly returns of 5% to 9.99%.

The CFTC said the court found that EminiFX suffered net losses exceeding $49 million and that at least $15 million of those losses came from Alexandre’s misappropriation of investor funds. A court-appointed receiver has recovered and distributed funds; the CFTC said that, as of July 2026, more than $98 million had been returned to more than 28,000 investors.

Why it matters

The case is a direct warning for traders assessing managed forex or crypto strategies marketed with unusually consistent, high returns. Trading technology, an “investment club” label, and claims of automated execution do not substitute for independently verifiable performance, custody and regulatory status. The CFTC also cautioned that a repayment order does not guarantee victims will recover all losses.

What to watch next

Watch for receiver updates on further distributions and for any CFTC notices related to collection or restitution. Investors considering a pooled trading product can check the promoter’s registration and disciplinary history before committing funds.