Three Canadian allegedly involved in scamming investors during PlexCorp ICO have been accused and charged for fraud after duping investors of eight million USD.
The Attorney of Northern Ohio, on the 24th, indicted PlexCorps founders Sabrina Paradis, Dominic Lacroix, and a former employee for a five-count charge involving fraud and money laundering.
The trio were found guilty of moving millions of dollars acquired through an ICO for the crypto project (PlexCoin) into their accounts. The trio lied to stakeholders through websites and social media posts. They misrepresented the crypto management team by lying that the business had a headquarter in Singapore and that people could earn profits up to 1350% under one month.
The SEC ordered the freezing of PlexCorps properties as well as that of both founders in 2017 in response to a case accusing them of securities fraud.
In the latest development, the SEC ordered both founders to pay 4.5 million USD, which is about half of ICO funds and other penalties summing up to 7 million USD.
Source: Cointelegraph
