“Mr. Lacroix, look me in the eyes. Do not disappoint a person. This would not be in your best interest.”
The hearings at the courthouse, rarely have the intensity of the movie scenes. Especially not in a commercial chamber.
On Wednesday, for a few seconds, everyone held their breath when the judge Daniel Dumais of the superior Court has arrested Dominic Lacroix, her voice a little cold.
With a small laugh, embarrassed, the business man fallen, now accused in Quebec and in the United States for his project of cryptomonnaie PlexCoin, has assured that he would continue to work, even once back in the open air.
After having lost her case before the Court of appeal, Dominic Lacroix, was jailed on July 8 for contempt of court. He had the opportunity to see his detention, which was shortened if he agreed to provide a full accountability and passwords to access his accounts of cryptomonnaie.
After nearly two years of explanation “misleading, inaccurate and incomplete” — the words are from the provisional administrator appointed at the request of the Autorité des marchés financiers — Dominic Lacroix has accepted, a few days ago, to deliver all the requested information.
After reading a letter of apology in court, Lacroix was submitted, from the prison to a virtual meeting of about two hours with the accountant Emmanuel Phaneuf, in charge of tracking the funds accumulated during the project PlexCoin.
The accountant Phaneuf was rather satisfied with the work done by Dominic Lacroix to explain his income and expenses from 2017 until today.
Lacroix confirms that he obtained between 8 and $ 9 million with the sale of its new virtual currency, which claimed to be even more secure than Bitcoin.
By seizing and selling the assets of Lacroix, the provisional administrator was able to recover approximately $ 5 million which will be redistributed among the investors.
Dominic Lacroix explained to approximately $ 4.6 million of expenditures for the past three years.
The bulk of the money went to work on the two homes of Lacroix, including the fairly well-to-do in the neighbourhood of the Mountain-of-Rocks in Charlesbourg, in rentals of luxury vehicles and in the procurement of equipment, blasting cryptomonnaie. This last activity was without the knowledge of the provisional administrator.
Today, with his goods blocked for the past three years, Lacroix said not to have no income. He said live Delivery canadian emergency and assistance of his loved ones.
During the meeting, the provisional administrator has learned that Lacroix had paid interest to the investors of other projects with the funds disbursed by the purchasers of PlexCoin.
Even at the end of the year that Lacroix describes as “transparency”, there is still the equivalent of 107 Bitcoin is obtained from the project Plexcoin that are still not explained and unexplained, that is, a value of nearly $ 1 million. But maybe not for long.
Because after he alleged before the court that he had everything cleared, Dominic Lacroix agrees to give all the codes and passwords needed to access its many portfolios cryptomonnaie.
Dominic Lacroix explained that, owing to its features of computer security, it will not give the password once you are back at home.
Hence the frown and the warning of the judge Dumais.
The lawyer of the AMF, Me Nathalie Chouinard, is also said to be “relatively anxious and skeptical.”
Dominic Lacroix will therefore have to sign an undertaking formalising its collaboration before leaving the prison, in the course of the next few hours.
Within a few months, he will face criminal charges of illegal distributions in Quebec and wire fraud in the United States.
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