Yesterday, a federal judge in New York ordered Eddy Alexandre, founder of the now-defunct cryptocurrency platform EminiFX, to pay $228 million in restitution for orchestrating a Ponzi scheme that defrauded tens of thousands of investors.

EminiFX CEO To Pay $228 Million In Restitution

According to a court filing published on August 19, US District Judge Valerie Caproni ruled that Alexandre and EminiFX must repay $228 million in restitution along with $15 million in disgorgement. The ruling stated:

Defendants Alexandre and EminiFX are jointly and severally liable to pay restitution in the total amount of $228,576,962. Defendant Alexandre is liable to pay disgorgement in the amount of $15,049,500.

The US Commodity Futures Trading Commission (CFTC) secured the summary judgment more than th

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