A CEO from New York is facing charges for his role in a $59 million cryptocurrency scheme where he touted phony technology to garner additional funding, federal officials announced.

 Long Island resident Eddy Alexandre, age 50, of Valley Stream, the leader of a purported cryptocurrency and forex trading platform called EminiFX, has been charged with commodities fraud and wire fraud offenses, according to US Attorney Damian Williams.

It is alleged that Alexandre solicited more than $59 million in investments from hundreds of individual investors after making false representations in connection with the EminiFX trading platform.

He was arrested on Thursday, May 12, and scheduled to appear in court later in the day.

According to prosecutors, beginning in September 2021 and lasting through May 2022, Alexandre operated EminiFX, a purported investment platform he founded, and solicited funding from hundreds of investors.

It is alleged that Alexandre marketed the company as an investment platform through which investors would earn passive income through automated investments in cryptocurrency and foreign exchange trading.

Williams said that Alexandre offered his investors “guaranteed” high investment returns using new technology that he claimed was secret.

Specifically, Alexandre falsely represented to investors that they would double their money within five months of investing by earning a 5 percent weekly return on their investment using a…