PlexCoin founders jailed

nBankruptcy Commentary: On Friday, the Canadian court, contempt of court, imposed a two-month prison sentence and a $ 100,000 fine on PlexCoin founder Dominic Lacroix. Because of the flippancy and inaccurate information on its corporate website, and did not cease its cryptocurrency sales activities as the court requires.n
nTranslation: Annie_Xun
The U.S. and Canadian governments seem determined to model a recent ICO.n
Radio Canada reported Friday that the Canadian court fined Dominique Lacroix with two months in prison and a $ 100,000 fine on contempt of court. FinanceFeeds reported the day before the SEC, the Securities and Exchange Commission, wanted an extension of the restraining order on PlexCoin and its organizers, the freezing of assets and the destruction of documents.n
PlexCoin promises the platform will provide the same bitcoin-like service, but faster. The site says, “From the very beginning of PlexCoin, it meant tremendous success.”n
Québec’s financial regulator AMF (Autorité des marchés financiers) ordered PlexCoin and its parent, DL Innov, to cancel the sale. However, the company did not do so, so AMF applied for and obtained a court order. Last week’s order from the Quebec High Court aimed at providing products in violation of court orders.n
“We do not care”n
Judge Marc Lesage used the “recklessness” in AMF’s documents to explain the fines and imprisonment.n
Radio Canada reports that in a letter to employees Lacroix said, “We do not care about AMF.”n
The U.S. court’s ban on PlexCoin and DL Innov ends on December 12, but the SEC hopes to postpone the hearing through the New York District Court for the Eastern District.n
According to FinanceFeeds reports, the SEC said the company reportedly raised $ 15 million, of which $ 810,000 was also deposited with payment processors Stripe. In addition, the unknown amount remains in the company-controlled cryptocurrency wallet.n

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