A U.S. federal court in New York has dismissed RICO-related class action claims against Eddy Alexandre, founder of the crypto Ponzi scheme EminiFX. The court ruled that the allegations, based on securities fraud, were not applicable under RICO statutes. Alexandre, who pleaded guilty to commodities fraud in 2023, is currently serving a nine-year prison sentence. Prosecutors revealed that Alexandre raised approximately $248 million from over 25,000 investors through EminiFX, promising to double their investments within five months. Previously, the U.S. Commodity Futures Trading Commission (CFTC) imposed a $229 million penalty on Alexandre and his company.