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.
