Canadian regulators have charged the Operator of PlexCoin with seven violations

BlockBeats: A regional regulator in Canada has filed new allegations against PlexCoin, calling it a digital currency scam. PlexCoin has been Mired in legal disputes in the past two years. Quebec's Autorite des Marches Financiers (AMF) have now filed seven cip cip corruption charges against the people who ran the schemes.

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PlexCoin is a digital currency project launched in 2017 by Canada's Dominic Lacroix through its company PlexCorps. He promised investors he would boost profits 13-fold in less than a month. He reportedly raised $15 million from thousands of investors in the U.S. and Canada before the SEC closed the PlexCoin scam in December 2017.

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Lacroix will now face justice for its crimes after the AMF filed new charges against it. Provincial regulators have accused Lacroix of making false statements about securities trading and dispensing tokens without a prospectus.

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AMF has also sued two other scam operators, Sabrina Paradis-Royer and Yan Ouellet, accusing them of not issuing tokens in the form of prospectuses in securities transactions related to the PlexCoin project.

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Canadian regulators said they had been tracking the fraudulent program since July 2017. It obtained a freeze order from the Financial Markets Regulatory Court concerning personal property, bank accounts and digital currency wallets held by Lacroix and Paradis-Royer. Canadian regulators would then work with the SEC to reallocate the frozen funds to investors.

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