FBI charges EminiFX CEO with fraud

Eddy Alexandre, CEO of the cryptocurrency and forex trading platform EminiFX, was charged by the FBI with fraud for his role in what he described to investors as a crypto investment scheme. Promising to double investors' money in five months with his secret robo-investing software and team of "experienced traders", in reality Alexandre pocketed most of the money. He spent $15 million of the money on his own expenses, including luxury vehicles. The small portion of funds he did invest ended up losing money.

The two fraud charges carry maximum sentences of 10 and 20 years.