PlexCoin, another scam coin comes under SEC radar

A financier from Quebec City and his wife, who created a fake money on the internet, are now in the crosshairs of US authorities, who claim at least US $ 15 million for alleged fraud.

The Securities and Exchange Commission (SEC) launched a lawsuit against Dominic Lacroix, 35, and Sabrina Paradis-Royer, 26, on Monday, who are the scammers who created PlexCoin, a scam token alternative to Bitcoin.

The SEC called for an emergency asset freeze and confiscation of the couple’s illegal profits. The alleged fraud has claimed tens of thousands of victims around the world, since August.

The couple was on the internet promoting PlexCoin, a fake cryptocurrency supposed to take a lot of value. PlexCoin was touted as an alternative to bitcoin, whose value has exploded recently.

Yields of 1354% in just 29 days were promised to buyers, according to the SEC.The US agency talks about “extravagant spending” made by the couple with funds drawn from alleged victims.

“Plexcoin is nothing more than a fraudulent scheme led by Lacroix and his acolytes, largely from the Lacroix offices in Quebec,” the SEC alleges in court documents filed in New York. Plexcorps, the Lacroix firm, falsely claimed to operate from Singapore, Asia, with a secret team of high-level financial experts.

This article was originally published in Journal de Montreal 

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