EminiFX and founder Eddie Alexandre have had a $243 million summary judgment ordered against them.

The CFTC filed for summary judgment against EminiFX and Alexandre in September 2024.

Specifically, EminiFX and Alexandre are up for $228,576,962 in restitution. Alexandre will also additionally pay $15,049,500 in disgorgement, offset by restitution payments.

The CFTC’s motion followed Alexandre pleading guilty in parallel criminal proceedings (Feb 2023), being sentenced to nine years in prison (July 2023), and ordered to pay $213 million in restitution (August 2023).

In handing down summary judgement, the court noted Alexandre’s objections were “incomprehensible”.

The sole argument Alexandre presents as to why the proposed restitution and disgorgement amounts are unreliable is that the Receiver did not rely on Generally Accepted Accounting Principles (“GAAP”) to calculate them.

This objection is incomprehensible.

Alexandre provides no explanation as to how GAAP would even apply to the Receiver’s analysis, why GAAP would be preferable in this context to straightforward arithmetic, or how using GAAP would alter the loss amounts calculated by the Receiver.

Accordingly, the amounts calculated by Receiver and proposed as restitution and disgorgement by the CFTC are appropriate.

EminiFX was a Ponzi scheme that defrauded consumers out of over $262 million.

As of May 2023, the court-appointed EminiFX Receiver had recovered $173 million. $87.8 million had been paid back to EminiFX victims via initial distributions as of August 2025.