New York man Eddy Alexandre has been ordered to pay over $228 million in damages for a crypto trading fraud case. The U.S. CFTC accused him of raising $59 million from hundreds of investors through his company EminiFX, claiming it was for crypto assets and forex trading, but instead misappropriated the funds for personal expenses, including the purchase of luxury cars like BMWs and Mercedes-Benzes. The court ordered Alexandre and EminiFX to jointly pay $228,576,962, and Alexandre personally must return $15.0495 million in illegal gains. Additionally, Alexandre has pleaded guilty in a criminal case and has been sentenced to 9 years in prison. (The Block)

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