SEC’s new cyber unit files first charges against PlexCorps ICO
The Securities Exchange Commission (SEC) obtained an emergency asset freeze to stop an initial coin offering fraud, the agency said December 4. The ICO falsely promised investors a 13-fold profit in less than a month and had raised as much as US$15 million since August, a news release from the agency said. The commission has filed charges against “recidivist Québec securities law violator” Dominic Lacroix and his PlexCorps company in federal court in Brooklyn, New York, according to the release. The complaint alleges that Lacroix marketed and sold securities called PlexCoin on the internet to investors in the United States and elsewhere. The charges are the first filed by the SEC’s cyber unit, which was created in September.
4 December 2017•1 min read
