On Thursday, October 8, 2026, the US District Court for the Southern District of New York issued an order directing entry of final judgment against Eddy Alexandre and his crypto and forex trading platform, EminiFX, Inc., in a fraud case brought by the Commodity Futures Trading Commission (CFTC). The order, signed by Judge Valerie Caproni, also denied Alexandre’s latest request for reconsideration.
The court ordered the defendants to pay, jointly and severally, a civil monetary penalty of $45,148,500. If the sum is not paid within 10 days of the order’s entry, post-judgment interest will accrue on the unpaid balance. The penalty is subordinated to claims by victims processed through the receiver’s distribution plan.
The judgment also permanently bars Alexandre and EminiFX from a range of activities. They are prohibited from committing commodities fraud, retail forex fraud, and fraud as a commodity pool operator or its associated person, and from using manipulative or deceptive devices in connection with commodity sales. They are also barred permanently from trading on registered entities, from trading commodity interests for themselves or others, from soliciting or accepting funds for such purposes, and from seeking registration with the CFTC, subject to a narrow regulatory exception.
The CFTC filed the action on May 12, 2022. On August 27, 2025, the court ordered the defendants jointly and severally liable for $228,576,962 in restitution and held Alexandre liable for $15,049,500 in disgorgement.
On June 12, 2026, it granted the CFTC’s motion for a permanent injunction and civil monetary penalty. Alexandre’s first motion for reconsideration was denied on July 2, 2026. He filed a second on October 1, 2026.
In rejecting that motion, the court said it found nothing casting doubt on its earlier conclusions. It noted that the CFTC’s authority to pursue enforcement claims over spot cryptocurrency transactions is not seriously in question, citing earlier rulings from federal courts in New York and Illinois.
The court deemed the Supreme Court’s decisions in Loper Bright Enterprises v. Raimondo and SEC v. Jarkesy irrelevant to the matter, and found Chatrie v. United States inapplicable because that case involved a geofence warrant.
The court directed the clerk to enter judgment for the CFTC and to terminate two pending motions. The case will remain open because the receiver’s distributions are ongoing.
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