RATE Group | Cryptocurrency lovers slip US watchdog $7m to make claims of ripping off investors, othe…
57999
post-template-default,single,single-post,postid-57999,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Cryptocurrency lovers slip US watchdog $7m to make claims of ripping off investors, othe…

14 Aug Cryptocurrency lovers slip US watchdog $7m to make claims of ripping off investors, othe…

Posted at 05:34h in Cryptocurrency News by

[ad_1]

Two Canadian lovers have tentatively agreed to pay $7m to the SEC, America’s financial watchdog, to settle a long-standing lawsuit.

Dominic Lacroix and Sabrina Paradis-Royer raised $15m in funding for the launch of the PlexCoin, which they said would be used to fund the operation of the Canadian cryptocurrency group PlexCorps.

But the pair were the first targets of a new cybercrime division setup at the SEC looking into initial coin offerings (ICO) back in December 2017: the couple was sued by the financial regulator, which claimed there was no actual company behind PlexCorps and they simply planning to use the money for, among other things, “home décor projects.” Essentially, it was alleged Lacroix and Paradis-Royer tried to rip off marks by making “false and misleading” statements about the potential returns on investment in the PlexCoin ICO, and operated an unregistered digital currency.

It didn’t…

[ad_2]

Source link

Tags:
, , , , , , , ,