SEC Files Accusations In Scam Of Digital Currency Investment

SEC Files Accusations In Scam Of Digital Currency Investment

The U.S. market controllers claimed this week that they for the initial time have closed down a scam related to digital currency investment. They charged a firm that took a lot of money from investors, falsely pledging a fast 13x earnings. The new Cyber Unit of Securities and Exchange Commission filed accusations in opposition to and froze the property of Dominic Lacroix and PlexCorps, his company. Now, Dominic Lacroix is a Canadian with a past of violations for securities law.

SEC Files Accusations In Scam Of Digital Currency Investment

The company traded securities named PlexCoin to sponsors in the U.S. and all over the world, lifting $15 Million ever since August 2017, and pledging a profit of 1,354% within almost a month, the SEC claimed to the media in a statement. These were the first accusations that the SEC created filed by the Cyber Unit in September to spotlight on fake initial schemes of digital currency and different crimes.

“This first case of the Cyber Unit hits all of the individuality of a completely-fledged cyber con and is precisely the type of misbehavior the unit will be chasing,” Robert Cohen, the chief of the unit, claimed to the media in a statement. “We reacted swiftly to defend retail investors from this initial false promises of the coin offering.” The SEC won an order from the emergency court to freeze the property of Lacroix, PlexCorps, and Sabrina Paradis-Royer, his partner.

The decision of SEC arrives in the middle of rising interest in crypto currencies, with the most deep-rooted, bitcoin, witnessing its value increase this year to astonishing heights, drawing both investor skepticism and interest. The Commodities Futures Trading Commission of the U.S., which controls sale in derivatives, last week allowed Cboe Futures Exchange and CME Group to provide contracts for prospect of the crypto currency, as per the industry insiders and sources.

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