Cryptocurrencies: 2423 / Markets: 17958 Market Cap: 24h Vol:
2019-08-13 20:00:35

SEC: PlexCoin founders will pay $1 million each as civil penalty

The United States Securities and Exchange Commission has come to an agreement with the founders of PlexCoin, an illegal crypto scheme that was in the works in 2017. Both of the founders, Dominic Lacroix, and Sabrina Paradis-Royer have agreed that they will pay a civil penalty of $1 million each and never participate in securities offerings in their lifetime. If they’re caught being involved in such activities, jail time is inevitable. PlexCoin itself as a company is going to pay a hefty $4.5 million in fines with $350k added interest. Many say that it’s quite light coming from the SEC,