SEC Sues to Stop Alleged ICO Fraud, Wins Emergency Asset Freeze
In the first filing of charges brought by the US Securities and Exchange Commission’s new cyber unit, the agency has sued what it called “a fast-moving initial coin offering fraud.” The SEC filed charges against Dominic Lacroix, of Quebec, Canada, and his company, PlexCorps. According to the agency’s complaint, filed in New York, Lacroix and PlexCorps allegedly marketed and sold securities called PlexCoin on the Internet to investors, claiming they would yield a 1,354 percent profit in less than 29 [...]