Criminal prosecution against the creator of the PlexCoin Dominic Lacroix

Poursuite pénale contre le créateur du PlexCoin Dominic Lacroix

Poursuite pénale contre le créateur du PlexCoin Dominic Lacroix

Dominic Lacroix and Sabrina Paradis-Royer

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June 19, 2020 11h02

Updated 12: 18pm

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Criminal prosecution against the creator of the PlexCoin Dominic Lacroix

Poursuite pénale contre le créateur du PlexCoin Dominic Lacroix

Poursuite pénale contre le créateur du PlexCoin Dominic Lacroix

Isabelle Mathieu

The Sun

The financial markets Authority commences a criminal prosecution against Dominic Lacroix, his wife and a former employee. The AMF accuses the trio to have made an illegal distribution of securities in the framework of the project of cryptomonnaie PlexCoin, a company that would have allowed its creators to raise $11 million.

The criminal charges come after an investigation of several months by the AMF. Lacroix, Sabrina Paradise-Royer, and Yan Ouellet are accused of having carried out the investment without a prospectus during operations on values.

The AMF also complains that Dominic Lacroix, initiator of the project PlexCoin, to have provided false or misleading information to its investors.

If they are convicted, the three individuals could face fines or detention. According to the securities Act, the maximum penalty, reserved for the most serious cases, is five years in prison.

Redistribution to come

The filing of criminal charges is the latest chapter of a saga that stretches for three years.

Dominic Lacroix, a specialist in loans and investments in the region of Quebec, was founded in 2017 PlexCorp, a company of crypto-services, of which the spearhead was the virtual currency the PlexCoin. This cryptomonnaie wanted to be even more effective than the Bitcoin.

The virtual currency will not happen alone : it will be accompanied, according to the company, the PlexWallet, the PlexCard and a PlexBank.

Aware of the operation, the AMF has investigated and obtained a court order to prohibit Lacroix, who is not licensed to broker, solicit investments, and advertising. It will also seek freeze orders on all goods, material or virtual Lacroix.

PlexCoin will still be launched with 108 000 investors across the planet. According to the AMF, approximately 15,000 people have actually bought Plexcoin for a value of $ 11 million. Approximately seven million $ were found at the end of the investigation by the interim administrator. They will eventually be redistributed to buyers as part of a process initiated in the superior Court. The hearing on the redistribution should be done in September.

More details to come…

Le Soleil

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