Well that didn’t take long.

Eddy Alexandre is already trying to weasel out of his EminiFX bail release conditions.

Alexandre was arrested and released on bail on May 12th, subject to
very specific conditions
.

On May 19th a new attorney representing Alexandre put in an appearance. Accompanying the notice of appearance was a letter motion, seeking modification to Alexandre’s bail conditions.

The argument is that at the time of Alexandre’s bail hearing, the CFTC’s injunction was unknown to Alexandre.

The specific bail condition Alexandre wants dropped the requirement he fund security but not out of EminiFX investor funds.

The implication is that Alexandre had no other source of income outside of the $14.7 million he pilfered through EminiFX.

Alexandre’s attorney argues that in lieu of private security, he’ll consent to extradition from Haiti should he flee.

Consent to extradition to the United States, in order to face the charges pending in the Complaint, from any country in which Mr. Alexandre is detained should he leave the United States during this case.

Alexandre will still be subject to home incarceration, but without private security monitoring.

The letter suggests the proposed modification was discussed with the DOJ prior to filing, noting that “the government opposes this application”.

Personally I think a big sticking point here is the missing millions tied to EminiFX.

Alexandre is refusing to disclose financial information with respect to the missing funds;

Mr. Alexandre does not pose a risk of economic harm and his bail conditions should not require him to waive his privilege against self-incrimination by providing financial disclosures.

That’s fine and dandy, but the fact remains should Alexandre flee, he’d have access to an undisclosed amount of cryptocurrency held in an undisclosed location.

Consent to extradition or no, I’d have thought that sufficient enough to tip the scales in favor of Alexandre being a flight risk.

At the same time the court has released Alexandre in spite of the missing millions, so that’s a moot issue for now. Is there much of a difference between home incarceration with a guard and without?

We’ll have to wait and see what’s in the DOJ’s opposition filing. I’m expecting that early this week.

Update 24th May 2022 – 
The docket has been updated to give the DOJ till May 25th to file a response.

At the time of this update the DOJ hasn’t made a response filing.

The court has set a May 26th bail hearing date, with the option of ruling solely on the merits of the filing(s) without a hearing.

Will check back for a DOJ filing later today.

Update 25th May 2022 – 
The DOJ has
filed its opposition
.

Update 27th May 2022 – 
Eddie Alexandre has prevailed in getting his bail release conditions modified.

Upon release, Alexandre will
not require 24/7 monitoring by a security guard
. All other previously set bail conditions remain in place.

🤖 Quick Answer

What are the bail conditions that Eddy Alexandre is attempting to modify?
Eddy Alexandre, arrested in connection with EminiFX on May 12th, was released on bail subject to specific conditions. His attorney filed a motion on May 19th seeking modification, specifically requesting removal of the requirement to fund security deposits without using EminiFX investor funds, suggesting limited alternative income sources.

On what grounds does Alexandre's legal team base their bail modification request?
Alexandre's new attorney argues that during the initial bail hearing, the CFTC's injunction against Alexandre was unknown to him. This lack of information, the defense contends, should justify modifying the original bail conditions imposed by the court.

What does the security funding requirement reveal about Alexandre's financial situation?
The bail condition requiring Alexandre to fund security from non-EminiFX sources implies he lacks independent income outside the $14.7 million allegedly emb

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