SEC charges alleged cryptocurrency scam with fraudulently raising $15 million
December 5, 2017 | Uncategorized
The Securities and Exchange Commission has frozen the assets of a cryptocurrency startup accused of fraudulently selling up to $15 million in tokens. Yesterday, the SEC announced charges against PlexCorps, an embattled initial coin offering (ICO) company that advertises an ostensibly stable and approachable cryptocurrency called PlexCoin. The complaint alleges that PlexCorps promised massive returns it was unlikely to deliver, while advertising a nonexistent team of experts and obscuring the past financial crimes of its founder Dominic Lacroix.
PlexCorps has already run afoul of Canadian regulators, who ordered it to stop soliciting investment for PlexCoin; Lacroix himself was previously banned from dealing in securities after allegedly…
