A former deacon with the Seventh-day Adventist Church has been ordered to repay $228M in restitution to more than 30,000 Christian* investors he scammed, according to a federal NY judge.
Eddy Alexandre, who was sentenced to nine years in prison in 2023 after pleading guilty to commodities fraud, was the founder of the now-defunct crypto platform. Launched in 2021, he managed to secure $262M in investments in just a few short months through deceit and lies, and then had his whole company flame out. According to the Christian Post:
Most of his victims were reportedly Haitian immigrants he accessed through the Haitian Adventist Church network. He promised them at least a 5% weekly return on their investment using fake artificial-intelligence trading technology. In reality, Alexandre invested a large share of the money he collected in Bitcoin, which fell some 26% during the period he was operating the scam, from September 2021 through May 2022. He also splurged on a $4.8 million Long Island home, acquire 46 foreclosed properties, leased six cars, and sent some $15 million of investor funds into his personal bank account.
Along with Alexandre and EminiFX being liable for the $228M, they also found the former being liable for an additional $15M disgorgement.
*We believe here at Protestia that SDA is a cult and their prophetess Ellen G. White was as crazy as a rat in a coffee can. That being said, depending on their view of her writings’ authority, there is a slight possibility that genuine believers may exist within the SDA. For this reason, we would encourage anyone part of this denomination to flee from it and join a biblical church.
