ICO Fraudster Forced To Pay Over $3.7 Million In Bitcoin Charges
Dominic Lacroix, an alleged ICO fraudster has on July 6 made a transfer of $3.7 million worth of bitcoin to a court-appointed administrator in a Quebec City court as ordered by a judge.
According to Canada’s Financial Markets Authority and the U.S. Securities and Exchange Commission stated Lacroix was part of a fundraising plot to steal $15 million from investors.
The U.S. and Canadian regulators received court approval to freeze the assets of Lacroix and Sabrina Paradis-Royer, his partner.
On Thursday, Judge Raymond W. Pronovost ordered Lacroix to give his bitcoins to the administrator and to appear to the courtroom Friday to confirm the transaction. According to the attorney for the court-appointed for the time being as administrator for the couple’s assets, Hugo Babos-Marchand note that the bitcoin transfer could be made swiftly.
On the other hand, Lacroix told the judge that because of the fact that his computer was confiscated, the transfer would be complicated.
Officials provide Lacroix a computer to allow him to make the transfer of 420 bitcoins which he did. The judge warned Lacroix that he will be imprisoned if he did not perform the transfer.
The SEC made a court order against Lacroix in June to freeze his assets following an investigation that stopped the PlexCoin ICO in December 2017. Lacroix is the developer of PlexCoin.