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.”

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Larisa is a reporter for The Haitian Times covering politics, elections and education primarily. A graduate of the Craig Newmark Graduate School of Journalism at CUNY, she has interned at CNBC and the Balkan Investigative Reporting Network. She is also a recipient of a 2021 DBEI Fellowship by Investigative Reporters & Editors. Larisa can be reached by email at larisa@haitiantimes.com or on Twitter @larisakarr.