US SEC demands Prohibitions against Plexcoin scammers

The United States Securities and Exchange Commission (S.E.C) is looking for prohibitions for the people responsible for the supposedly fake Introductory token contribution (I.C.O) called PlexCoin, as reported by a news outlet on 26th Sept.


The S.E.C has been engaged in a continuous lawsuit where the proprietors of the related company PlexCorps — Dominic Lacroix and Sabrina Paradis-Royer are accused at the NY East Area Court as from Dec last year. The commission underlying grievance, is that it has blamed the two proprietors of disregarding securities laws in regard to PlexCoin I.C.O in Aug last year.

The accusation had blamed Lacroix — who was referred by the commission as 

"a convicted who repeatedly violates securities laws nationwide" — and his accomplice of "misusing" financial specialists’ resources that were "wrongfully" 

brought up in a false, tricky, and non-registered resources. The PlexCoin I.C.O is affirmed to have collected $14 million from "a huge number of financial specialists," allegedly encouraging speculators a 1355% profit in only a month.

In the following months, the commission has taken legal action against Lacroix 2 times for resources extortion and handed out 2 crisis orders to freeze his properties.

As per the S.E.C, the two proprietors have kept on ignoring a progression of legal directives with reference to the "disclosure, bookkeeping [...] and banishment of resources." The commission accordingly submitted to the judge an application to induce and an application for prohibitions for the two accused on 25th Sept.

The overlooked directives  incorporates a  directive from Dec last year that urged the accused to deliver — in 3 weekdays — "a certified printed bookkeeping records" indicating the sums and areas of financial specialist resources contributed to the PlexCoin I.C.O, plus to "instantly" submit to the judicial registrar all the resources "got from the Token sale"

In spite of a postponement of the due date and additional directives to furnish S.E.C with "a listing of bank records and all blockchain info via which financial specialist reserves were requested or gotten," Lacroix and Paradis-Royer have supposedly neglected to respond to all of the requests. They're additionally stated to have overlooked orders issued last month that requested more bookkeeping records relating to financial specialist assets and also the accused properties.

This week S.E.C contended that the accused exhibit no goal of "genuinely partaking" in the continuous lawsuit, and could possibly use a deferment technique "uncertainly, including conceivably after the passage of a primer order." The S.E.C has purportedly noticed that this adamant inability to obey court orders could additionally encourage the accused possibly wasted the speculator resources.

One of the latest prominent advancement in the cryptocurrency regulations scene in the United States is, a NY government magistrate has decided for the current month that securities legislation are relevant for managing cryptocurrency scam claims.

2 years ago

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