PlexCoin - AMF brings penal proceedings against three individuals

Money-Services Businesses Securities

Québec City – The Autorité des marchés financiers (AMF) is instituting penal proceedings against Dominic Lacroix, Sabrina Paradis-Royer and Yan Ouellet, charging them with seven counts of offences related to illegal distribution activities.

Specifically, the AMF is charging Dominic Lacroix with making distributions without a prospectus and making misrepresentations in respect of transactions in securities in connection with the PlexCoin project. The AMF is charging Sabrina Paradis-Royer and Yan Ouellet with making distributions without a prospectus in respect of transactions in securities in connection with the PlexCoin project.

Between July 2017 and May 2018, the AMF submitted a request to the Financial Markets Administrative Tribunal (the “Tribunal”) in this case and obtained, among other things, freeze orders This link will open in a new window (in French only) on the personal property, bank accounts and cybercurrencies held by or under the control of Dominic Lacroix and/or Sabrina Paradis-Royer. For purposes of its investigation, the AMF enlisted the help of the United States Securities and Exchange Commission and obtained the appointment of a receiver empowered to redistribute the seized or frozen amounts to the investors.

After the defendants enter a plea, the Tribunal will have to rule on the evidence submitted to it.

The Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector.

 

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Information:

Media only:
Sylvain Théberge: 514-940-2176

Information Centre:
Québec City: 418-525-0337
Montréal: 514-95-0337
Toll-free: 1-877-525-0337
Twitter: @lautorite This link will open in a new window
LinkedIn: Autorité des marchés financiers (Québec)  This link will open in a new window

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