EminiFX investors support chief executive charged in crypto Ponzi scheme

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Faithfully, by 2:30 a.m. on Fridays, Frantz Victorin said he received at least a 5 percent return from EminiFX, an online investment platform that said people could get rich investing in cryptocurrency and the foreign exchange markets, also known as forex.

EminiFX chief executive Eddy Alexandre, a fellow Haitian native living in New York, would explain that investors could withdraw their profits and use the money to pay their mortgage, car note or other bills. Or, they could reinvest the returns, Victorin said.

“Everybody got paid,” Victorin said. “They got their profit in their e-wallet.”

Alexandre, who is also the founder, president and sole owner of EminiFX, was charged in connection with running a Ponzi scheme, according to a complaint filed in the Southern District of New York. The profits people believe they were making were not real, the complaint said.

But to this community of family, friends and fellow church members, Alexandre was like a shepherd leading a flock to what they hoped would be life-changing fortunes.

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The weekly returns were so big and consistent, a minimum of 5 percent and sometimes almost 10 percent, that Victorin projected he would become a millionaire after a little less than a year of investing with EminiFX.

“I took out at least four loans from different banks to make sure the dream he was talking about, as a family, we were ready,”…

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