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   1739

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.

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Bittrex to List LOOM

LOOM is the token of the American startup Loom Network, which launches decentralized applications
18 July 2018   165

Popular cryptocurrency exchange Bittrex listed Loom Network token LOOM. 

As the team of the exchange said, trading with the crypto currency will begin in the near future. On the background of this news, LOOM showed a price jump fo 14%.

LOOM Price Chart
LOOM Price Chart

LOOM is the token of the American startup Loom Network, which is launching decentralized applications.

In January, Bittrex tightened the criteria for listing new tokens. Now, developers need to provide technical information about the token itself, as well as the data of at least one team member. At the moment, the exchange has 290 digital coins.