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U.S. Department of Justice Files Charge Against PlexCoin
Summary: In a public statement released by the U.S. Department of Justice (DOJ) on July 24, three organizers of PlexCoin ICO were charged with five-count indictments: conspiracy to commit securities and wire fraud, wire fraud, and conspiracy to commit money laundering. One year after being sued by the Securities and Exchange Commission (SEC), this time PlexCoin ...
In a public statement released by the U.S. Department of Justice (DOJ) on July 24, three organizers of PlexCoin ICO were charged with five-count indictments: conspiracy to commit securities and wire fraud, wire fraud, and conspiracy to commit money laundering.
One year after being sued by the Securities and Exchange Commission (SEC), this time PlexCoin will disgorge its remaining ICO funds if found guilty.
DOJ claims that the three defendants—Dominic Lacroix, Yan Ouellet, and Sabrina Paradis-Royer—intended to use ICO as a way to “defraud investors and enrich themselves”. As the ICO organizers made fraudulent promise to deliver 1,345% returns, involved investors were defrauded of $8 million worth of fake cryptocurrency.
PlexCoin started its ICO funds in 2017 and was forced to stop in December 2019.
By Lily Yang
Tags: plexcoin,Regulation
Link: U.S. Department of Justice Files Charge Against PlexCoin [Copy]
