The SEC and Market Authority in Canada are inspecting a ICO ‘PlexCoin’ fraud scheme ran by ‘Dominic Lacroix’ which was responsible for raising around $15 Mln from investors in an ICO Pre-sale activity. Lacroix is the creator of ICO PlexCoin.
Assets Freezed as per court’s order till next hearing
Till the final decision taken by the Canadian court against the fraud fund raising Scheme, all the assets of Lacroix and Sabrina Paradis Royer have been freezed by the U.S. and the Canadian regulators, as per the court’s order.
The Judge incharge of this case, Raymond W.Pronovost’ ordered Lacroix and his wife Sabrina Paradis Royer to transfer there bitcoins to the court’s appointed administrator till this case is resolved and attend the courtroom confirming his transactions for the bitcoins he accounts.
As per the court’s strict order to transfer bitcoins by Lacroix to the courtroom’s administrator, a total transfer of 420 Bitcoins was made by Lacroix. The judge told Lacroix that he would face jail if he did not transfer the bitcoins.
History In Fraud Repeated Again
Even back in year 2013, Lacroix pleaded guilty to sending false information, resulting in a $25,000 CAD fine and in October 2017, the Quebec Superior Court held him in contempt of court for flouting a previous ruling forbidding him from soliciting investors or initiating an ICO in the jurisdiction.
The SEC in December 2017 charged Lacroix with the fraud ICO marketing Scheme in the PlexCoin ICO after he promised 1,354% profits in less than one month in his promotional materials. He and his wife were also charged with ignoring SEC registration rules for security offerings.