Canadian ICO Organizer charged with fraud by SEC

North America United States

Dominic Lacroix and Sabrina Paradis-Royer, along with the PlexCorp firm, the organizers of a 15 million USD (ICO), have had charges filed against them by the U.S. Securities and Exchange Commission (SEC). The agency alleges a violation of US securities laws and defrauding investors through false statements made to potential investors by the defendants.

The charges are the first to come from the recently formed SEC’s Cyber Unit whose task, amongst others, is to counteract any ICO irregularities. They aren’t, however, the first charges against Lacroix, who was previously accused by the Autorité des marchés financiers (AMF), Quebec’s finance regulator, of soliciting investors for the PlexCoin ICO and held in contempt of court by the Quebec Supreme Court.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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