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Dominic Lacroix, an OIC Organizer of PlexCoin , was found guilty of contempt of court prevented Lacroix and its associated companies from holding an initial offer of coins in Quebec or soliciting investors from the Canadian province.
The Autorité des marchés financiers (19459007), Quebec's financial regulatory authority, announced in a statement that the Quebec Superior Court, the highest court in the province, had found Dominic Lacroix and an associated company, DL Innov Inc., for breaching a previous court order in PicoCoin's OIC.
In July, the AMF issued Orders prohibiting Lacroix and several associated companies from promoting "any form of investment" with investors from Quebec and operate one in the province, even if it targeted only investors who did not live in Quebec. The order specifically mentions PlexCoin, an etheric token that stands as "the next cryptocurrency" and announces the "potential profit" that investors will make by participating in the early stages of the now concluded PlexCoin ICO.
In addition, the Financial Markets Tribunal (TMF) ordered PlexCoin to stop advertising on the Internet – anecdotal accounts indicate that PlexCoin ICO had engaged in an aggressive advertising campaign on Facebook – close Facebook accounts, close its websites or at least blocks IP addresses from Quebec and publishes the TMF order on the homepage of all associated websites.
When it became clear that Lacroix and PlexCoin had no intention of complying with orders, the MFA issued a bulletin warning investors of the risk of investing in the ICO.
Then, in September, IGR issued additional orders against Lacroix, associated companies, and another person named Sabrina Paradis-Royer. In particular, the orders prohibited them, as well as banks and third-party payment platforms, from disposing of "any funds, title or other property in their possession or entrusted to them".
Justice Marc Lesage of the Superior Court of Quebec has now found Lacroix and DL Innov inc. guilty of contempt of court for repeatedly violating these previous orders. From the AMF Announcement :
"In its decision, [Lesage] pointed out that the evidence filed by the MFA demonstrated beyond any doubt that Dominic Lacroix and DL Innov Inc., representatives and alter ego of PlexCorps and PlexCoin, continued to solicit and offer investors, directly and indirectly, to invest in the purchase of PlexCoin, a virtual currency, after orders issued by the Administrative Court of Financial Markets preventing them from July 20, 2017. "
According to the announcement, a hearing will be held on November 14 to determine the sentence for the findings.
The PlexCoin saga is not Lacroix's first encounter with the AMF. In June of this year, at the request of the agency, the TMF prohibited Lacroix, DL Innov inc., And several other related companies to "carry out, directly or indirectly, any transaction in any form of investment "regulated by the Securities Act as a punishment for violation of securities laws.The AMF note that Lacroix and one of its companies pleaded guilty to six charges of "illegal placement, illegal practice and transmission of false or misleading information" in 2013 and were fined $ 25,000. was not named in any of these decisions.
Certain statements in this article have been translated from French
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