Quote from: Alexbit2017 on November 30, 2017, 02:17:54 PM

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SEC Files Charges Against Alleged ICO Scam PlexCoin

The U.S. Securities and Exchange Commission (SEC) has filed charges against the organizers of the PlexCoin initial coin offering (ICO). Citing marketing materials that promised investors could net a 1,354 percent profit on their holdings in less than 29 days, the SEC charged Quebec residents Dominic Lacroix and Sabrina Paradis-Royer, along with PlexCorps Lacroixs company with violating anti-fraud regulations connected to the ICO. Lacroix and PlexCorps were also charged with violating the requirement to register all securities offerings with the SEC.

According to an SEC statement, PlexCorps had raised as much as $15 million from the PlexCoin ICO, which began in August. The Commission has obtained an emergency asset freeze against PlexCorps while the case is litigated. Robert Cohen, chief of the cyber unit, said:

This first Cyber Unit case hits all of the characteristics of a full-fledged cyber scam and is exactly the kind of misconduct the unit will be pursuing. We acted quickly to protect retail investors from this initial coin offerings false promises.

Source: Cryptocompare.com