Share this article
ICO Issuer PlexCorps Reaches Settlement With US Securities Regulator
Following the ruling, PlexCorps must disgorge $4.56 million in addition to some $350,000 in interest.
Updated Sep 13, 2021, 11:18 a.m. Published Aug 13, 2019, 2:30 a.m.
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.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
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 million in an ICO, PlexCorps was first sued by the SEC in December 2017. The suit claimed Lacroix was using the raised funds for personal transactions. According to FinanceFeeds, the SEC asked for an extension of temporary restraining orders, asset freeze orders, and orders against the destruction of documents.
Lacroix is no foreigner to judicial oversight. That same month as the 2017 SEC case, Lacroix was also ordered to two months of jail time and PlexCorps to pay $100,000 in fines by a Canadian judge for contempt of court.
Final Judgment (Proposed to... by CoinDesk on Scribd
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bank of Japan Set to Hike Rates to 30-Year High, Posing Another Threat to Bitcoin
Rising Japanese rates and a stronger yen threaten carry trades and could pressure crypto markets despite easing U.S. policy.
What to know:
- According to the Nikkei, the Bank of Japan (BoJ) is set to increase interest rates to 75bps, the highest level in 30 years.
- Rising Japanese funding costs, alongside falling U.S rates, could force leveraged funds to reduce carry trade exposure, increasing downside risk for bitcoin.
Top Stories
