Eddy Alexandre has successfully moved to have his EminiFX bail conditions modified.
Arguing that he’s left unable to pay for a security guard, whilst not disclosing what he did with EminiFX’s missing millions in crypto, Alexandre will be released on bail without guard 24/7 guard monitoring.
As per a May 26th hearing order, Alexandre’s bail conditions are as follows:
- $3 million Personal Recognizance Bond, secured by three homes and a BMW;
- limited to travel within the Southern and Eastern Districts of New York;
- travel documents must be surrendered and Alexandre is barred from applying for new documents;
- 24/7 home incarceration with location monitoring (Alexandre to pay costs, prohibited from using EminiFX investor funds);
- submission of signed extradition waiver;
- prohibited from working in the investing/financial industry;
- prohibited from opening bank accounts or lines of credit without Pretrial Services’ approval; and
- prohibited from engaging in any crypto transaction without Pretrial Services’ approval
The two major changes are the aforementioned lifting of the guard requirement, and Alexandre not having to disclose where he stashed tens of millions in stolen EminiFX investor funds.
The latter is framed as preserving Alexandre’s right to not self-incriminate himself.
I don’t like the idea of Alexandre being let out without disclosing where missing EminiFX investor funds are, but that’s what the Judge has ordered.
As of earlier this week Alexandre was still being held in prison under quarantine. Hopefully he stays put when released.
Looking forward, with Alexandre’s bail conditions sorted we’re back to the preliminary injunction.
On May 20th the CFTC requested the preliminary injunction scheduled on May 24th be adjourned.
The motion was granted on May 23rd, rescheduled the injunction hearing to June 7th.
Till then the Statutory Restraining Order remains in place, effectively freezing Alexandre’s assets. EminiFX has been placed under control of a Temporary Receiver.
Beyond that, a pretrial conference has been scheduled for July 22nd.
Update 4th June 2022 – At the request of Eddy Alexandre’s attorney, the preliminary hearing has been pushed back to June 17th.
Defendant Eddy Alexandre was detained between May 12 and May 31, 2022, with limited access to counsel.
The requested adjournment will allow time for Mr. Alexandre to consult with counsel regarding the allegations in this action and the CFTC’s motion for a preliminary injunction.
If an agreement is reached on the preliminary injunction, it is to be filed by June 15th.
Update 16th June 2022 – A consented proposed preliminary injunction was filed on June 14th.