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Charged With Crypto Fraud Alexandre Trial Is March 27 As Receiver Details Foreclosure Deals

By Matthew Russell Lee, Patreon Maxwell Book
Vlog - Guardian - Honduras - ESPN NY Mag

COURTROOM EXCLUSIVE, August 5 – Eddy Alexandre, charged with commodities fraud in connection with a purported cryptocurrency and forex trading platform named EminiFX, was ordered released on $3 million bond on May 12.

He would be required to hire his own guard for home incarceration in Valley Stream, NY - and not pay the guard with the crypto funds.

  The bail decision was reached by U.S. District Court for the Southern District of New York Magistrate Judge Katharine H. Parker in an hour-long proceeding on the afternoon of May 12. Inner City Press was the only media there, and live tweeted it here and below.

Then was June 14, when Alexandre was arraigned. Inner City Press again went. The court room was full (of supporters), but little to no media. Inner City Press live tweeted here
and below.

On August 3, with two overflow courtrooms, more Alexandre and EminiFX supporters / investors, a Curcio hearing and March 27 trial date. Inner City Press exclusively live tweeted here and below.

On August 5, in the parallel CFTC case, Judge Valerie E. Caproni approved the receivers request for nearly $1 million, a request which included: "Long Island Real Estate Portfolio. Soon after the start of the receivership, the Receiver discovered that EminiFX had entered into 46 separate contracts to purchase residential properties in Long Island out of foreclosure, each in a separate New York state court action with a separate court-appointed referee overseeing the sale. EminiFX also entered into two separate real estate contracts outside of foreclosure. In addition, Alexandre entered into a separate contract for a property using $535,000 in funds traceable to EminiFX customers as a deposit. The total deposits on all properties totaled over $3 million, and the Receiver and his team at Raines Feldman and FDT have been working to recover as much as possible. The total amount recovered to date on the EminiFX contracts for purchase is $575,200. This amount plus the court-ordered turnover of the $535,000 deposit for the Alexandre contract for purchase brings the total recovery to over $1.1 million. The Receiver and FDT are working to recover the remaining deposits." Full letter on Patreon here.

From August 3: OK- US v Alexandre, now in jammed courtroom, former SDNY prosecutor Emil Bove speaks of seized phone.  Bove criticizes his former office coordinating with CFTC. Alexandre wants all CFTC communications outside of Enforcement Division.

 AUSA Folly (also on #OneCoin) says no objection to motion cycle starting Aug 29. Former AUSA Bove: Alexandre's 6th Amendment rights are being constrained. 2d round of motions. Oct 31.

 AUSA Folly: This is standard, freezing assets. Judge Cronan: US must update on Aug 24 on responsiveness review. [Up in the overflow courtroom many have on Alexandre T-shirts. It appears some COVID masks have his image on them]

 Alexandre wants trial in January. AUSA Folly says March. Alexandre supporter next to me shskes his head vehemently. Judge Cronan: Trial March 27.

 AUSA Folly: Exclude Speedy Trial Act time go March 27, 2023. Bove: Only to Aug 24. Judge Cronan: To Aug 24 for now. Now the Curcio hearing....

Alexsandre: I am 50, with a masters from Phoenix U. I have business acumen and was in charge of cyber security for Warner - CNN, HBO, etc. I don't drink. Judge: I find you competent to proceed.

 Judge: Who pays your counsel? Alexandre: Family and friends. Judge: That may be a conflict or risk. Do you understand? Alexandre (still standing up) Yes

[Alexandre supporter passes by me on way out - yes, photo of Alexandre and EminiFX orinted on COVID mask. Also an EminiFX ID card around neck. Is it still a going concern?] Alexandre waives all conflicts.

From June 14: Now at arraignment of Eddy Alexandre, out on $3M bail with former SDNY prosecutor Emil Bove as his lawyer.

 Judge Cronan: I was Mr Bove's supervisor. [Gives 2 weeks to object. Courtroom jammed; there's a T-shirt "We Support Our CEO"]

Alexandre: Not guilty.

Judge Cronan: Mr Bove, are there any conditions I should loosen?

Bove: I'll deal with Pre-Trial Services

AUSA Folly: Defendant ran EminiFX -  a Ponzi. We have video.

Judge Cronan: What about the CFTC case? AUSA Folly: Let Mr Bove answer.

Bove: There's a consent preliminary injunction pending...

More on Patreon here. And vlog here.

By June 17, no longer just pending: " ORDER REQUIRING TURNOVER OF DEPOSIT TO RECEIVER: On June 16, 2022, this Court entered the Consent Preliminary Injunction in this case (Dkt.56) and, by Memo Endorsed Order (Dkt. 55), overruled the objection of non-parties Christopher Beil and Maureen Beil (the "Sellers"). Pursuant to a certain contract of sale dated as of April 11, 2022 (the "Contract") for the sale by Sellers to Purchaser (as defined therein) of 525 Manhasset Woods Road, Manhasset, New York 11030 (the "Property"), $535,000 was deposited (the "Deposit") into the escrow account of Sellers' counsel, Kirschenbaum & Kirschenbaum, P.C. ("Escrowee"). David Castleman, the court-appointed receiver (the "Receiver") over Defendant EminiFX, Inc. ("EminiFX") and assets of Defendant Eddy Alexandre ("Alexandre") traceable to customer funds, has stated a good faith belief that the Deposit is traceable to EminiFX customer funds, and provided the Court with justification for his belief, pursuant to paragraph 38 of the Consent Preliminary Injunction. The Escrowee shall turn over the Deposit to the Receiver within 3 business days from entry of this Order. Sellers' may make a claim in the normal claim process to be established by the Receiver with the approval of the Court at a later date, subject to the Receiver's right to review and object to such claim as part of the approved claims process. The Receiver shall hold the Deposit in the Alexandre Assets account pursuant to paragraph 38 of the Consent Preliminary Injunction. IT IS SO ORDERED. (Signed by Judge Valerie E. Caproni on 6/17/2022)."

From May 12: AUSA: Defendant is not a US citizen. There's $55 million missing. Judge: I read he worked at HBO. AUSA: Yes. In the past. Now he might flee to Hsiti.

AUSA: He founded an investment platform, offering 5% week returns. [He is in a crisp white shirt and glasses. He was arrested at 6 am this morning.]

 AUSA: He used investors' funds to buy himself $150,000 BMW. He gave some to charity. [Inner City Press just found online the defendant's social media promoting Partners in Health in Haiti]. Federal Defender: We offer a relative's $600,000 home.

 FD: He has a civil case against him too. He needs to be out on bond. They speak of $114 million. But what they seized is all he has. He cannot now buy a private jet.

 [Inner City Press finds that this crypto defendant is followed on social medis by Laurent Lamothe.]

AUSA: There are millions unaccounted for. The State Department says we could not get him back from Haiti via extradition.

Judge: The weight of the evidence is strong. Cybersecurity was one of your jobs. But I am going to release you.  Judge Parker: Eddy Alexandre, you will be released on $3 million bond, 5 co-signers, 2 properties & BMW. Home incarceration and yiu must pay for a guard. [Echo of UN briber Ng Lap Seng]

AUSA: Please specify he can't use the crypto funds to pay for the guard. FD: He needs permission to manage his investment properties.

 Judge Parker: Let him call his wife, from the Federal Defender's phone. Adjourned.

  Alexandre then sat at defense table speaking into his Federal Defender's cell phone until the Marshals put handcuffs on him and took him away.

More (bonus) on Patreon here.

The case is US v. Alexandre, 22-cr-326 (Cronan)


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