Founder of fraudulent PlexCoin ICO goes to jail

Canadian court sentenced Dominic Lacroix, DL Innov Inc. founder to two month jail time
12 December 2017   2979

Canadian financial supervisory body – Québec’s Autorité des Marchés Financiers (AMF) – announced today, that Plexcorp founder Dominic Lacroix is sentenced to jail time for contempt of the court.

Earlier this year Quebec Superior Court already prohibited PlexCorp from selling its ICO token – PlexCoin, or soliciting and offering consumers any other investment into the company. Now, the contempt of the court charge resulted in a maximum penalty of two month imprisonment for Lacroix and $110 000 fines.

And Lacroix' problems don't end there. All of this is happening with the investigation still ongoing into his company – DL Innov Inc. All the assets and bank accounts are frozen until further notice, and AMF is looking into possible new charges against Lacroix and DL Innov Inc.

Also, Canadian law enforcements will probably take into account the report by US Securities and Exchange Commission, filed by the newly-established Cyber Unit, that Dominic Lacroix and DL Innov Inc. under the brand names of Plexcorp performed PlexCoin ICO, gathering since August 2017 up to $15 million from several thousands investors, promoting clearly false information by promising a 13-fold profit in a month's time.

SEC to Unveil New List of Probable TON investors

One investor in this list is a ex-member of the managing board of the Bitcoin Foundation and partner of Ribbit Capital Mayer Malka
27 January 2020   477

Some names of large investors and the names of investment companies that could take part in the $ 1.7 billion token sale of the Telegram blockchain project became known, CoinDesk reportes with reference to documents issued by the US Securities and Exchange Commission (SEC) in the framework of the current proceedings.

One such investor is a former member of the managing board of the Bitcoin Foundation and partner of Ribbit Capital, Mayer Malka. He during the testimony at the beginning of the month mentioned Telegram CEO Pavel Durov.

Answering a question about whether Telegram is known for investors who can take on the role of validators in the TON PoS blockchain, Durov said:

We didn't put together a separate list of the purchasers who we would assume have experience in validating other networks, although it was obvious that certain investors… such as, for example, Micky Malka that we have discussed earlier, might… have experience in these processes of validation or at least were closely affiliated with parties that had experience in such processes.

 

Pavel Durov

Telegram CEO

In addition, Telegram Vice President Ilya Perekopsky, in one of his reports, named David Jan, the founder of ABBYY, a linguistic solutions development company, among potential investors. According to the correspondence published by the SEC, Ian asked Perekopsky if he could get an allocation in the ICO if he contacted Telegram directly without intermediaries in January 2018. “100 percent,” replied Perekopsky.

Also, TON investors could become the American funds Kleiner Perkins, Fortress, Draper Dragon, Dragoneer, DRW Holdings and Redpoint. This follows from the testimony declarations affixed by the SEC to the recent petition. In eight declarations, TON investors explain what prompted them to purchase Gram tokens. Company names have been removed from all documents, but they have remained in the file names. Sources familiar with the situation confirm that they really could take part in the ICO.

Most of the witnesses interviewed by the SEC indicated that they were interested in the possibility of supporting the Telegram project in the ICO TON, while the messenger itself does not accept funding for its main business. The announced investment amounts are on average $ 5-10 million. At the same time, Kleiner Perkins was initially offered an allocation of $ 15 million, but the company managed to agree on a twice as large investment, it follows from the submitted documents.