2 months in jail for the creator of the PlexCoin

Photo Stevens LeBlanc
Dominic Lacroix

Nicolas Saillant

Friday, December 8, 2017 10:43

UPDATE
Friday, December 8, 2017 15:45

Look at this article

The creator of the virtual currency called PlexCoin, Dominic Lacroix to have to spend the next two months in prison and had to be prisoner in the detention Centre in Orsainville for contempt of court.

In addition to the sentence of two months, the court has also convicted the company of the citizen of Quebec, DL Innov, to a fine of$ 100,000. Dominic Lacroix, however, had expressed its desire to call for in the deliberate of the Superior court after a hearing on October 3, and could regain her freedom soon, pending the appeal.

Last July, the financial markets Authority had demanded Dominic Lacroix stop making transactions on his cyber cash, the PlexCoin. A condition that the administrator has not respected so he has been found guilty of contempt of court on 14 November last.

According to the evidence filed by the investigator of the AMF, Dominic Lacroix has continued its activities, including soliciting customers through Facebook, despite a decision dated the 20th July last.

Exchanges between the director and an employee have been shown to have activity after the decision of the AMF. He said to his employee in a conversation obtained, “who cares about the AMF”.

Of their conversations, the employee and the administrator also indicates that the AMF has “no right” because the main office is in Singapore. Large transactions are also carried out by DL Innov at the end of the month of September.”It is necessary to leave no trace,” he wrote also.

“Flippancy”

Since 29 September, the site is no longer accessible with an IP address in Quebec, but it is always possible to access with an IP address in Japan or from France.

After you read the interview between Dominic Lacroix and his employee, the court finds that they “demonstrate the casualness of the defendants in respect of orders made and their intention not to follow them”.

Lacroix has therefore continued its activities, considers the court. More, “all the efforts are put to implement and to continue the activities that they are ordered to stop.”

Millions missing

Dominic Lacroix and his wife Sabrina Paradise-Royer would have made victims all over the world. In addition to the AMF, the u.s. Securities and Exchange Commission calls for 15M$ for the 35 year old man.

It promised potential benefits of 1354% to its customers. Lacroix is not licensed to act as broker. The AMF was made to sign an undertaking to Lacroix in 2011 to stop its activities.