Daily News Update, Caribbean, Legal Corner, US NEWS


By the Professor

Youtube: @therealprofessor

TrueNewsBlog (TNB) – EMINIFX’s CEO EDDY ALEXANDRE now stands guilty of one of the largest Ponzi Schemes in the Haitian Diaspora. Sixty-two thousand investors, mostly Haitians from the United States, France, Canada and Dominican Republic invested over 250 million dollars with EDDY ALEXANDRE.

This case started nearly a year ago, when BANK OF AMERICA, where EDDY ALEXANDRE had several bank accounts noticed that many of its Haitian clients were moving their money from their personal accounts to EDDY ALEXANDRE’S personal bank accounts. The bank notified the Federal Bureau of Investigation (FBI) who promptly arrested ALEXANDRE for fraud.

After his arrest, many of his religious followers from the Adventist church quickly rallied behind him accusing the government of racism. Nine (9) months later, EDDY ALEXANDRE pleaded guilty to the indictment with one notable event, he traded the investors’ money in exchange for less prison time.

EDDY ALEXANDRE agreed to plead guilty, forfeit all the money he collected from the investors to the government, and in exchange the government agreed to reduce his prison sentence. Under the Federal Sentencing Guidelines, EDDY ALEXANDRE was facing 30 years in prison mainly because of the amount of money involved ($250 million).  By agreeing to forfeit the money to the government, the money will not be counted as a loss that would have increase his prison sentence. So, in effect, Eddy ALEXANDRE, first committed fraud against the investors, then turn around and use the investors’ money as a get-out-of prison free card.

ALEXANDRE, who initially pleaded not guilty could have gone to trial and force the government to prove its case beyond a reasonable doubt, but instead he decided to plead guilty, forfeit investors’ money to the government and hope to get a light prison sentence on July 12, 2023, when he will be sentenced.

As part of the Judge’s order, investors will not automatically receive their money as anticipated prior to the plea deal. Investors will have sixty (60) days to file a Petition with the federal court and establish a claim to the money. This new scenario makes it almost impossible for 62,000 people to file individual petitions to make a claim. In addition, there are many investors who reside outside of the United States, for whom it will be almost impossible to make such claim unless they retain an attorney.

Even for investors who live in the United States, making a claim will be hard. First, they will have to retain an attorney who undoubtedly will charge thousands of dollars to represent them, second, most investors invested between 5 to 10 thousand dollars, meaning, an investor who invested 5 thousand dollars would have to pay the same amount to an attorney to try to retrieve less than what they paid the attorney, kind of throwing good money after bad, not a very smart investment. The government knows this very well and that is the reason why the Judge put conditions and limitations on who can make a claim, how and when.

The only effective way for Investors to get their money is to file a Class Action lawsuit against EDDY ALEXANDRE, EMINIFX and THE US GOVERNMENT, making a class claim as opposed to a single claim. Such a lawsuit will force the government to deal with a class as opposed to one person.

From the beginning of this case, I have been telling EMINIFX investors to retain an attorney to represent their interests, but now they finally realize that I was right, and I hope it is not too late.

For more information about EMINIFX, the writer can be reached by email: [email protected] or by telephone at: 509-850-7442.

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