ICO Issuer PlexCorps Reaches Settlement With US Securities Regulator

Deal money miniatures 860x430

A settlement between the SEC and a startup that raised funds in an initial coin offering has defendants paying out the big bucks.According to court filings, defendants Dominic Lacroix, Sabrina Paradis-Royer and PlexCorps agreed to pay fines and never again participate in securities sales. A judge has yet to sign off on the settlement.Lacroix and Paradis-Royer each agreed to pay $1 million apiece as a civil penalty. PlexCorps must disgorge $4.56 million in addition to $350,000 in interest.“PlexCorps is pleased to achieve this settlement with the Securities and Exchange Commission, in which it is cooperating with the SEC to ensure that U.S. purchasers of Plexcoin will be eligible to receive a refund directly from the SEC,” said Morrison Cohen partner Jason P. Gottlieb, representing PlexCorps.Per the settlement, Lacroix and Paradis-Royer each agreed to never participate in a securities sales again. The duo also agreed to never commit fraud.After raising $15…

Read the original article here