White-collar crimes
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Court’s approval of remediation agreement yields guidance but raises questions
A remediation agreement sanctioned by Quebec Superior Court, the second in Canada, sheds new guidance and fleshes out principles applicable to the unique regime but also raises concerns over the opaqueness of the process and the relatively hands-off approach by the court. Continue reading
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Legal experts hope first remediation agreement under Criminal Code will lead to more
Legal experts hope that guidance provided by Quebec Superior Court in Canada’s first ever remediation agreement will prompt federal prosecutors and organizations to take advantage of the new way of settling criminal charges. Continue reading
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Quebec court applies Jordan ceilings to white collar crime
A Quebec man accused of tax evasion by provincial tax authorities won an “important” legal battle after the Court of Quebec applied the landmark Jordan ruling and ordered a stay of proceedings and charges. Continue reading
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U.S. SEC obtains another order to freeze assets of alleged PlexCorps founder
The noose is tightening around 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 millions of dollars’ worth of digital assets. Continue reading
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Alleged PlexCorps founder ordered to hand bitcoins to Quebec financial watchdog
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… Continue reading
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Investment counsellor fined $2.1 million
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. Continue reading
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Suspected PlexCoin founder sentenced to two months in prison
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. Continue reading
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U.S. SEC files charges against PlexCorps
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… Continue reading
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PlexCoin still under scrutiny by Quebec financial regulator
Quebec’s financial watchdog is putting the squeeze on Dominic Lacroix. Continue reading
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Montreal man ordered to pay largest fine ever issued for Quebec securities offences
A Montreal man was fined $11.2 million, the largest fine ever issued in Quebec for securities offences, and sentenced to a three-month jail sentence for fraudulent penny stock practices commonly referred to as “pump and dump” scheme. Jean-François Amyot is among one of five people and two companies that plead guilty to charges laid against… Continue reading
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Quebec financial watchdog raids offices of man prohibited from promoting PlexCoin
The Quebec financial watchdog raided last week the offices of Dominic Lacroix, a Quebec City man who has been prohibited by a tribunal to promote and solicit investors for a new virtual currency called PlexCoin. The raid turned up a list of people from around the world, including Quebec, the U.S., and Africa, who expressed… Continue reading