On Tuesday, September 25, the Securities and Exchange Commission (SEC) filed a motion in New York District Court seeking sanctions for failure to comply with a court order by those responsible for defrauding investors in the PlexCorps ICO (PlexCoin).
Last December, the court upheld the regulator's claim and issued a ruling obliging defendants Dominique Lacroix and Sabrina Paradis-Royer to provide information about the assets received from investors during the PlexCoin ICO, including a list of bank and brokerage accounts, blockchain addresses, which investor funds were sent, and other information.
In addition, in August of this year, the court adopted a new order obliging the defendants to provide the information specified in the first court order by September 18, 2018. However, it seems that the defendants do not intend to cooperate and are not going to implement the court order.
The SEC warns that if the defendants are not sanctioned, they will continue to commit illegal activities and defraud inexperienced investors. Let us recall that in its lawsuit, the US regulator demands to take emergency measures against persons who misappropriated investor funds received through the offering of unregistered security tokens. From August 2017 to the present, the defendants obtained approximately $15 million from U.S. investors through false and misleading statements. This occurred despite a Quebec court order prohibiting Dominique Lacroix and Sabrina Paradis-Royer from engaging in activities regulated by the US Securities and Exchange Commission.
According to https://financefeeds.com/
You May Also Like
The ruble and the Russian stock market showed a record decline
The geopolitical factor severely collapsed the Russian stock market on February 21. While the Security Council was discussing the recognition of the independence of the Donetsk and Lugansk People's Republics, stock indices fell one after another.
New US bill proposes not to consider cryptocurrencies as securities
On December 20, two US congressmen submitted a bill to the House of Representatives, according to which cryptocurrencies would not be considered securities. The "Token Classification Act of 2018" was introduced by Warren Davidson and Darren Soto and calls for excluding digital currencies from the definition of securities by amending the Securities Act of 1933 and the Securities Exchange Act of 1934.
