The U.S. SEC has obtained an emergency court docket order to freeze the property of Dominic Lacroix, identified for violation of securities regulation with reference to PlexCoin ICO.
The U.S. Securities and Exchange Commission (SEC) has obtained a further emergency court docket order to freeze the property of Dominic Lacroix, proprietor of PlexCorps, in an ongoing enforcement motion, Crowdfund Insider reported June 20. The SEC had beforehand sued Lacroix for securities fraud and obtained an emergency asset freeze order in December, 2017. The order was unsealed June 18.
The SEC alleges that, since December, Lacroix has been utilizing secret accounts, together with an account in his brother’s identify which he managed, to dissipate property obtained from buyers with the PlexCoin ICO. The SEC is trying to acquire curiosity, penalties, in addition to everlasting injunctions, in addition to an officer-and-director bar and a bar from providing digital securities.
The SEC’s preliminary grievance charged Lacroix and his companion, Sabrina Paradis-Royer, with violating securities regulation in respect to the PlexCoin initial coin offering (ICO) conducted by PlexCorps in August final yr.
In accordance with the SEC, PlexCorps promised buyers a 1,354 % return in simply 29 days. The ICO reportedly raised $15 million from “hundreds of buyers.” The SEC described Lacroix as a “recidivist Quebec securities regulation violator.”
Final month, the SEC obtained a courter order to halt the actions of Titanium Blockchain Infrastructure Companies Inc.’s ICO that raised $21 million from buyers within the U.S. and Canada. The grievance from the SEC alleged that the corporate president lied about enterprise relationships with the Federal Reserve and dozens of well-known companies corresponding to Boeing, Verizon, PayPal, and Walt Disney.
The three co-founders of cryptocurrency startup Centra Tech were formally indicted in Might for operating a fraudulent ICO, with costs of securities fraud, wire fraud, and two conspiracy counts. The corporate raised $32 million from buyers in 2017. The defendants had misled buyers by falsely claiming that their firm had partnered with Visa and MasterCard to subject digital forex debit playing cards.