The founder and manager of EminiFX Eddy Alexandre has been handed a 9-year prison sentence by the New York District Court in the USA. Alexandre had amassed a total of $248 million from clients. He was found guilty of stealing $14.7 million from this amount . Alexandre’s case received a lot of attention due to his extravagant promises of weekly returns of up to 10 percent which made him gain a large number of supporters.
Support from Around the World and a Harsh Reality
During Alexandre’s initial hearing last year his courtroom was filled with hundreds of supporters some of them even being France and Canada. These people had placed their trust and investments in Alexandre’s promises. However as Alexandre’s investments began to weaken and losses mounted he found himself unable to fulfill his commitments which led to the collapse of his system .
Legal Consequences and Aggrieved Customers
A civil complaint was brought against Alexandre by the US Commodity Futures Trading Commission (CFTC) which focused on the losses suffered by the nearly 100,000 clients who had fallen for his fraud . According to the CFTC in addition to the 9 year prison sentence Alexandre was sentenced to 3 years of probation . The scale of Alexandre’s theft as well as the impact on his clients highlight the gravity of his actions .
Capture and Fallout
Alexandre had been arrested in May of the previous year which resulted in a court battle that has now come to an end with his sentencing. Alexandre’s illegal riches including expensive cars and other assets were seized as the truth about his fraudulent operations became known .
With hundreds of supporters attending his hearings Alexandre initially held the trust and faith of his clients. As the truth appeared and Alexandre’s fraudulent activities became evident the consequences for his victims became devastating.
The legal action brought against Alexandre which resulted in his extended prison sentence illustrates the gravity of his embezzlement and the large number of people harmed . As the dust settles on this case it provides as a cautionary story for anyone looking for financial possibilities.