PANews reported on August 20 that Eddy Alexandre, founder of the cryptocurrency and forex trading platform EminiFX, was ordered by a New York federal court to repay over $228 million for operating a Ponzi scheme that defrauded tens of thousands of investors. Additionally, he must pay $15 million in restitution for illicit profits.

EminiFX, founded in 2021, claimed to offer weekly returns of 5%-9.99% through its "robo-advisory accounts," but it actually lost at least $49 million without using the technology it advertised. Alexandre is accused of misappropriating at least $15 million for personal expenses, including credit card bills, luxury cars, and cash withdrawals. He previously pleaded guilty in a criminal case and was sentenced to nine years in prison and ordered to pay $213 million in restitution. A court-appointed receiver has begun distributing recovered funds to victims.