For the first time, the U.S. government’s new network department filed a “ICO fraud” lawsuit

nRunaway Comment: Cyber ​​Unit, a network unit set up by the Securities and Exchange Commission this year, sued for the first time an ICO fraud case. Canadian Dominic Lacroix and his company, Plex Corps, were convicted of violating securities laws and freezing assets because of the high return on investment from false promises. And the white paper from corporate tokens Plex Coin is a criminal proof. In order to crack down on criminal activities related to distributed ledger technology and cryptocurrency, this year the network division was established. Moreover, the move is fast and the people involved may also be severely punished.n
nTranslation: Annie_Xun
The U.S. Securities and Exchange Commission (SEC) announced that the newly formed Cyber ​​Unit filed a lawsuit against an ICO fraud that “promised a 13x return within a month, starting in August and raising money from thousands of investors 15 million US dollars. ” The SEC said it was the first lawsuit filed by the department and could become a turning point for regulatory coercion.n
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SEC network for the first time filed a lawsuitn
Two months ago, the article reminded readers that the SEC formed the Cyber ​​Unit, shortly afterward detailing the ICO fraud first discovered by the department. But the department hopes to emphasize the Cyber ​​Unit, while the mainstream media also accept it all.n
SFC released Release No. 2017-219 (Release 2017-219, SEC Emergency Action Halts ICO Scam) to take urgent action to stop ICO fraud by labeling Canadian Dominic Lacroix as “a Quebec offender who violated securities laws.” Lacroix and its firm, Plex Corps, have been indicted for providing “tokens of 1,354% in 29 days”.n
The Commission froze the assets of the people involved, including Lacroix and Plex Corps.n
“According to the application filed by the Autorité des marchés financiers”, Lacroixin was convicted in contempt of court in October this year. Earlier in the summer court, Lacroix was sentenced to violate the securities law.n

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The white paper is evidencen
In addition to the courts and government regulators, Twitter seems to be a better way of snatching fraud before officials. Attorney Stephen Palley said proudly he warned Plex Corps, “Remember I told you the white paper is proof?”n
The number of oversights by government regulators has always been several times as many as prevention and detection, and there has never been a lack of complacency. Citing the words of Robert Cohen, head of Cyber ​​Unit, “Cyber ​​Unit’s first case possesses all the features of mature online fraud that exactly the type of crime the department will follow.” “We acted swiftly to protect retail investors from the ICO’s false promises.”n
The Cyber ​​Unit has existed since the fall of this year, and its goal appears to be “the misconduct involving distributed ledger technology and ICO, the spread of false information through electronic means and social media, the attacks and threats to trading platforms.”n
The department sued Lacroix “for violating anti-fraud provisions in U.S. securities laws in violation of the terms of the registration.” It also “hopes for permanent prohibition and recovery” in addition to fines and interest payments. Once convicted, Lacroix will no longer be involved in the regulated industry.n

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Minimize the cryptocurrency processn
Plex Corps offers token Plex Coin, “The Next Centered Global Crypto Currency based on the Ethereum Architecture. Its mission is to expand the possibilities, increase the number of users, and simplify cryptocurrency management processes to the greatest extent.”n
Details displayed on the company’s website include, “Plex Coin transactions (deposit, withdrawal, purchase, sale, transfer) are much faster (30 seconds) than bitcoin (45 minutes) and they increase storage efficiency.”n
It seems Plex Coin’s biggest feature is brought about legal issues.n

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