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Cryptoassets & Blockchain Legal News

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United States

Canadian ICO Organizer charged with fraud by SEC

December 4, 2017 by Ashley MAO

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.

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Ashley MAO, Coinlaw

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Ashley MAO is a member of the Coinlaw team. Read more about our team.

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