Quebec: Plexcoin (SCAM) convicted of contempt of court

Plexcoin presented itself as a cryptocurrency running on the Blockchain Ethereum, which offered its users a payment card in partnership with VISA. Dominic Lacroix - leader of PlexCoin - was convicted of contempt for disrespecting the prohibition to promote the PlexCoin ICO issued by the Quebec Court of Financial Markets. Plexcoin had been denounced very early by CryptoFR because of the many elements that suggested that the project was a scam.

Plexcoin should not exist anymore

On August 3, 2017, the Quebec Financial Markets Authority issued a warning as a reminder on its website. The AMF had requested the Financial Markets Tribunal to prohibit "PlexCorps, PlexCoin, DL Innov inc., Gestio inc. and Dominic Lacroix (...) to engage in any activity for the purpose of carrying out, directly or indirectly, any transaction in any form of investment described in section 1 of the Securities Act, including soliciting and solicitation of 'investors in Quebec or from Quebec to outside Quebec'.

Following this decision, Dominic Lacroix had to remove all ads promoting its ICO, close sites related to PlexCoin and PlexCorps, as well as the Facebook accounts of both companies. Yet, to date, the promotion of the ICO has not stopped and the sites of PlexCorps and PlexCoin are still online.

Faced with this flagrant lack of cooperation, Justice Lesage filed an application on October 17 for Dominic Lacroix to be found in contempt of court, "an order of the court that, during the course of a trial, declares that a person ( moral or physical) has disobeyed or has demonstrated a lack of respect towards the authority of the court. »(Wikipedia)

Another noteworthy fact, point n ° 88 of the report of the court quotes a known personage of the French-speaking world of cryptocurrencies, ffmad, member of CryptoFR:
Plexcoin ne devrait déjà plus exister

Le 3 août 2017, l’autorité des marchés financiers québécois publiait une mise en garde faisant office de rappel sur son site internet. L’AMF avait sollicité le Tribunal des marchés financiers pour interdire à « PlexCorps, PlexCoin, DL Innov inc., Gestio inc. et Dominic Lacroix (…) d’exercer toute activité en vue d’effectuer, directement ou indirectement, toute opération sur toutes formes d’investissement décrites à l’article 1 de la Loi sur les valeurs mobilières, dont la sollicitation et le démarchage d’investisseurs, au Québec ou à partir du Québec vers l’extérieur du Québec ».

Suite à cette décision, Dominic Lacroix devait retirer toutes les annonces faisant la promotion de son ICO, fermer les sites en lien avec PlexCoin et PlexCorps, ainsi que les comptes facebook des deux sociétés. Pourtant, à ce jour, la promotion de l’ICO n’a pas cessé et les sites de PlexCorps et de PlexCoin sont toujours en ligne.

Devant ce manque flagrant de coopération, le juge Lesage a déposé le 17 octobre une demande pour que Dominic Lacroix soit condamné pour outrage au tribunal, « un ordre de la cour qui, pendant le déroulement d’un procès, déclare qu’une personne (morale ou physique) a désobéi ou a démontré un manque de respect envers l’autorité de la cour. » (Wikipédia)

Autre fait notable, le point n°88 du rapport du tribunal cite un personnage connu du monde francophone des cryptomonnaies, ffmad, membre de CryptoFR :

Court report citing ffmad and CryptoFR

Plexcoin in the line of sight of CryptoFR

The debate was launched on July 5 - 15 days before the decision of the Quebec court - and the PlexCoin team came to defend its positions. Following a blatant bad faith on the part of PlexCoin, the subject was locked and a new topic "Plexcoin: actions and investigations" was launched, to push the investigation a little further. Therefore, the project was considered, until proven otherwise, to be a SCAM, a scam. The publication of the whitepaper also gave rise to the opening of a topic of "selected pieces".

A metaphor of the PlexCoin Whitepaper by a member of CryptoFR (NetMaster)

Among the alleged facts, we find all the classic elements of a scam:

Inconsistent and late whitepaper
Highlighting Non-existent Partnerships (VISA)
Massive promotion for a high risk investment (facebook advertising)
Promise of exceptional returns (more than 1000%)
Smart contract not published on Github
Anonymity of the team
... etc.
CryptoFR has therefore still aimed right. We remind you that CryptoFR is for us the main - and perhaps the only - haven where you will find competent and experienced individuals. Also, if you are hesitant to invest in an ICO, we invite you to follow the following steps:

1-Use the search box to read existing topics about the ICO you want information on
2-Visit the "SCAM" section of the site
3-If you can not find an answer, create a topic.