EminiFX Review- Scam

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The DOJ has filed its opposition to Eddy Alexandre’s requested adjustment to bail conditions letter.   

As predicted, Alexandre’s disappearance of millions of dollars in crypto has emerged as a major concern.   

As put by the DOJ in their May 24th response opposition filing, Alexandre, a Haitian national, defrauded investors in his company, EminiFX, out of more than $59 million. Following his arrest on May 12, 2022, Alexandre refused to furnish pretrial services or the court with any information regarding his bank accounts, including his bitcoin assets. In his move, Alexandre continues to withhold any details regarding the unaccounted-for investment funds. As a result, the court cannot be certain that (a) Alexandre does not have the financial means to pay for private security at his home, as required by Judge Parker; or (b) that Alexandre does not pose a flight risk due to his access to substantial undisclosed assets and his status as a foreign national without the guard condition.

As recently as last month, Alexandre told his investors that EminiFX had gathered over $114 million in investor money. At this point, only around $61 million in investor money has been identified and frozen by the Receiver, leaving as much as $53 million in unaccounted for investor funds that Alexandre may obtain and use to flee from prosecution.   

The DOJ claims that, while Alexandre wasn’t returned to detention, Judge Parker established the present terms as “the least restrictive that I believe are required.”   

During his bail hearing, Alexandre claimed he was unaware of the CFTC’s civil asset freeze.   

The DOJ disagrees.   

Alexandre cites the freezing of his assets in the civil receivership action, but those facts were known to him at the time of the bail argument.   

Indeed, Alexandre’s move for reconsideration admits that the CFTC provided his former counsel with notice of the civil enforcement action prior to the bail hearing but bemoans that the asset freeze “got just a cursory reference” at the hearing.   

The fact that he couldn’t utilize stolen investor funds to pay for his own release may have been the final straw for Alexandre. 

That requirement, as I understand it, was specifically asked by the DOJ orally at the hearing. Perhaps Alexandre and/or his counsel didn’t completely appreciate what it meant when granted. Either way, it doesn’t matter. A defendant is commonly refused access to contested assets to pay for his or her defense, which includes any fees associated with his or her release while awaiting trial.

The DOJ focuses on Alexandre’s hiding of EminiFX investor funds. The DOJ points out that neglecting to declare the money is in and of itself a release condition violation.   

Alexandre does not meet the bar for a move to reconsider here, which he does not on the facts as they stand, and thus, before releasing him on bail, the Court should compel a thorough accounting of his present assets to be made. Such information is regularly provided in the course of the compilation of a pretrial report, but here, Alexandre refused to furnish pretrial services with information regarding his holdings. Even though Judge Parker specifically ordered Alexandre to give details on his bitcoin assets as a bail condition, he has still neglected to do so.   

“What about the rest of the world?” was a question raised by our readers in relation to Alexandre’s agreement to be extradited from Haiti.   

“Consent to extradition”? A whole lot of good it will do the DOJ when there are corrupt regimes that will gladly accept a bribe and claim they are unable to identify the fugitive. It’s time to get rid of Dubai!   

I’m inclined to agree, and this argument was also brought up by the DOJ.   

Alexandre’s offer to sign a so-called extradition waiver here provides no additional assurance that Alexandre could be discovered, detained, and extradited were he to leave for another nation.   

Many courts have ruled that such alleged disclaimers are invalid and have no legal effect.   

That is because any defendant who signs such a supposed waiver and then flees would almost certainly argue the validity and/or voluntariness of the waiver and would get to do so in the jurisdiction of his choosing (i.e., the one to which he decided to go) (i.e., the one to which he chose to flee). An anticipatory extradition waiver is not considered binding by any country in the world, according to the Office of International Affairs of the Department of Justice (DOJ).   

When it comes to fleeing MLM scams, Dubai is the best option, says Amos. Even if the waiver applies to Dubai, the authorities there are almost certain to dismiss it.   

If Alexandre is sitting on $53 million in stolen investor cash, that’d go a long way towards his efforts to dodge justice. At the time of publication, a decision on Alexandre’s letter motion demanding an adjustment of bail conditions remains pending.

The DOJ has filed its opposition to Eddy Alexandre’s requested adjustment to bail conditions letter.    As predicted, Alexandre’s disappearance of millions of dollars in crypto has emerged as a major concern.    As put by the DOJ in their May 24th response opposition filing, Alexandre, a Haitian national, defrauded investors in his company, EminiFX,…

The DOJ has filed its opposition to Eddy Alexandre’s requested adjustment to bail conditions letter.    As predicted, Alexandre’s disappearance of millions of dollars in crypto has emerged as a major concern.    As put by the DOJ in their May 24th response opposition filing, Alexandre, a Haitian national, defrauded investors in his company, EminiFX,…

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