SEC Obtains Additional Order to Freeze PlexCoin ICO Assets

The Securities and Exchange Commission (SEC) has received an additional emergency court order freezing the assets of Dominic Lacroix. The freeze is part of an ongoing enforcement action that stems from some time ago. The SEC had previously sued for securities fraud and had obtained an emergency asset freeze in December of 2017. The order was unsealed on June 18.

Lacroix is described as a “recidivist Quebec securities law violator.” In February 2013, Lacroix and his company Micro-Prêts pleaded guilty before the Court of Quebec to six charges of illegal distribution, illegal practice and misrepresentations.

The SEC’s original complaint charged Lacroix and his partner, Sabrina Paradis-Royer, with violating securities law pertaining to an initial coin offering (ICO) regarding PlexCorps.

The SEC’s request alleges that, since the original freeze in December, Lacroix had been using secret accounts, including an account in his brother’s name by which he controlled, to improperly dissipate for personal use digital assets obtained from investors during the PlexCoin ICO.

As is typical to these cases, the SEC seeks permanent injunctions, disgorgement plus interest, and penalties.  For Lacroix, the SEC also seeks an officer-and-director bar and a bar from offering digital securities against Lacroix and Paradis-Royer.

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