US CFTC secures order for ex-New York resident to pay $288 million

US CFTC secures order for ex-New York resident to pay $288 million

The ​US Commodity ‌Futures Trading Commission ​said ​on Monday it ⁠secured court ​orders ​requiring a former New York ​resident ​and his firm ‌to ⁠pay more than $288 million ​for ​operating ⁠a commodity ​pool ​Ponzi ⁠scheme.

Federal Court Orders Over $288 Million in EminiFX Ponzi Case

The latest order adds a $45,148,500 civil penalty. Alexandre’s restitution payments also reduce what he owes in disgorgement.

CFTC Finalizes $262M Judgment in EminiFX Ponzi Scheme, Investors Recover Over $98M

TL;DR: Civil penalty: The U.S. District Court ordered $45.15 million in fines and $228.58 million in joint restitution against Eddy Alexandre and his platform. Capital raised: The entity raised more than $262 million by promising weekly returns of up to 9.99%, while accumulating real trading losses exceeding $49 million. Judicial recovery: The court-appointed receiver has returned over $98 million to more than 28,000 investors as of the July 20…