Crypto Fund Fraudster Gets Nine Years in $249 Million Scheme (1)

The Long Island, New York, man who admitted swindling hundreds of millions of dollars from investors through his EminiFX cryptocurrency and foreign-exchange platform was sentenced to nine years in prison.

Eddy Alexandre, who lives in Valley Stream, was sentenced Tuesday by US District Judge John Cronan in Manhattan. Alexandre pleaded guilty in February to commodities fraud and agreed to forfeit $248.8 million he earned illegally through his Ponzi scheme targeting mostly investors in the Haitian-American community in New York.

“This was a calculated, planned and ongoing fraud,” Cronan said. “And the reach of the fraud was vast.”

The scheme played ...