A Quebec City businessman believed by Quebec’s financial watchdog and the U.S. Securities and Exchange Commission to be behind PlexCorps, a controversial cryptocurrency start-up accused of fraudulently selling up to millions of dollars’ worth of tokens, has been ordered to hand all bitcoins in his possession within 48 hours, ruled the Quebec Financial Markets Administrative Tribunal.
On December 2014 Cenan Rayo, a thirty-something Columbian native and the father of a ten-month old infant, sent an invitation on Facebook to a 12-year old girl to become his “friend.” Rayo, while not a family friend, knew the mother because they were part of a small Columbian community, and ran across each other in different places, including the local church.
Nearly 10 years after Quebec’s financial watchdog launched penal proceedings against an investment consultant, a Court of Quebec judge fined Denis Patry $2.1 million after being found guilty of 89 counts of securities violations.
A pilot program that began six years ago to help Montreal alcoholics and drug addicts convicted of crimes from reoffending will be expanded across the province, announced Quebec Minister of Justice Stephanie Vallée.
Why it matters: The program, offered initially only to detainees while their cases were pending, will now be expanded to include people who are not detained while charged with a crime.
A general contractor has been found guilty of manslaughter after one of his employees was killed by being buried in a trench, marking the first time in Quebec that a breach of provincial occupational health and safety legislation served as the basis for a manslaughter conviction under the Criminal Code.
Why it matters: It is extremely rare for employers to be charged with criminal negligence and manslaughter.
What's next: The contractor is scheduled to be sentenced in May. “I’m eagerly looking forward to the sentence – that’s where we will see what kind of message the courts will send,” said a health and safety lawyer. “If he ends up in prison, that to me will have much more of an impact than a guilty plea.”
Two alleged Montreal Mafia leaders were acquitted of gangsterism and drug trafficking charges after Quebec Superior Court excluded wiretap evidence gathered by a joint police task force because they failed to put in place sufficient measures to prevent the interception of conversations between lawyers and clients.
Why it matters: The decision provides guidance on electronic surveillance, castigates police for failing to do enough to protect solicitor-client privilege, and warns that it would be imprudent to view his ruling as an inducement to consider law firm as safe havens to conspire and plan crimes.
In a decision that clarifies and provides practical guidance on the application of the Jordan decision, the Quebec appeal court held that a man charged with killing his wife will not face a new trial.
An elderly man who was found guilty of two counts of gross indecency will be allowed to serve his sentence of two years less one day of imprisonment in the community after the Quebec Court of Appeal held that it was “an exceptional case that required an exceptional solution.”
Why it matters: The Quebec Appeal Court provides pointed guidance over the sentencing of infirm elderly offenders at a time when Canada’s prison population is becoming greyer.
A Quebec woman, who was found guilty of first degree murder of her two young daughters in 2013, will face a new trial after the Quebec Court of Appeal found the trial judge made a series of glaring errors when instructing the jury.
What was said: “It is astonishing that the coordinating judge of the Superior Court handed the responsibility of such an important and difficult case to a judge whose management seemed to exceed her professional skills,” said a noted Montreal criminal lawyer.
Dominic Lacroix, a Quebec City businessman believed by Quebec’s financial watchdog and the U.S. Securities and Exchange Commission to be behind PlexCorps, a controversial cryptocurrency start-up accused of fraudulently selling up to $15 million of tokens, was sentenced to two months of prison and fined $100,000 for contempt of court.
The U.S. Securities and Exchange Commission has obtained an emergency asset freeze against PlexCoin, a controversial “fast-moving” and “purported” initial coin offering (ICO) that has raised up to $15 million from thousands of investors since August 2017.
The SEC also filed charges against Dominic Lacroix, a “recidivist” Quebec securities law violator, his partner Sabrina Paradis-Royer and his company PlexCorps, according to a new filing dated December 1, 2017 in Brooklyn, New York.
Why it matters: Regulators are keeping a watchful eye on ICOs, hoping to make life difficult for predatory offerings that promise exhorbitant returns.