{"id":245422,"date":"2020-01-03T09:26:46","date_gmt":"2020-01-03T14:26:46","guid":{"rendered":"http:\/\/insidebitcoins.com\/?p=245422"},"modified":"2024-06-06T16:57:11","modified_gmt":"2024-06-06T16:57:11","slug":"sec-may-distribute-over-1-4-million-to-victims-of-plexcoin-fraud","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/sec-may-distribute-over-1-4-million-to-victims-of-plexcoin-fraud","title":{"rendered":"SEC May Distribute Over $1.4 Million to Victims of PlexCoin Fraud"},"content":{"rendered":"

The Securities and Exchange Commission (SEC) of the US asked the court for permission to distribute over $1.4 million to PlexCoin victims.<\/p>\n

Victims to get reimbursed<\/h2>\n

The US securities regulator recently settled with PlexCoin for $7 million. It imposed a penalty of $4.56 million on the company with about $350,000 in additional fines. They also asked the company\u2019s founders Dominic Lacroix and Sabrina Paradis-Royer, to pay a fine of $1 million each. According to documents submitted in court, the regulator wants to refund the victims $1.4 million in one go.<\/p>\n

\"SEC<\/a><\/p>\n

The filing states, \u201cFollowing the entry of the final judgment in this matter (D.E. 116), the entities that the Court directed to turnover assets formerly belonging to Lacroix have done so, resulting in the SEC collecting approximately $1.4 million as U.S. Assets.\u201d<\/p>\n

Canadian authorities after the ICO<\/h2>\n

The ICO is under legal flux in Canada as well, where the court has appointed a receiver who will collect all the token sale proceeds. The SEC is also an interested party in the legal proceedings in Canada. The regulator said that it wants to send the US assets to the receiver so that victims could be paid in a single distribution. However, the regulator wants to ascertain if their plan is fair and reasonable for the investors before making a recommendation. They want to ensure that a single distribution is a better option for making separate distributions in the US and Canada.<\/p>\n

The regulator suggests that the fraudulent ICO caused over $8 million in losses to the investors. If the distribution process is transferred to a third-party receiver, the SEC will not be able to distribute more than $5 million. The SEC wants to ensure that it wants to reduce the administrative fee so that the investors can get higher refunds.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission (SEC) of the US asked the court for permission to distribute over $1.4 million to PlexCoin victims. Victims to get […]<\/a><\/div>","protected":false},"author":1730,"featured_media":245423,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[9063,9061,10129,9062,8766],"class_list":["post-245422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-dominic-lacroix","tag-plexcoin","tag-plexcoin-fraud","tag-sabrina-paradis-royer","tag-securities-and-exchange-commission-sec"],"acf":[],"yoast_head":"\nSEC May Distribute Over $1.4 Million to Victims of PlexCoin Fraud<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission (SEC) of the US asked the court for permission to distribute over $1.4 million to PlexCoin victims.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC May Distribute Over $1.4 Million to Victims of PlexCoin Fraud\" \/>\n<meta property=\"og:description\" content=\"The Securities and Exchange Commission (SEC) of the US asked the court for permission to distribute over $1.4 million to PlexCoin victims.\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-03T14:26:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-06T16:57:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/01\/Plexcoin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sherlock Gomes\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@sherlockgomes\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sherlock Gomes\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422\"},\"author\":{\"name\":\"Sherlock Gomes\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/89bac294cb2c1ff5549edfa9272567ee\"},\"headline\":\"SEC May Distribute Over $1.4 Million to Victims of PlexCoin Fraud\",\"datePublished\":\"2020-01-03T14:26:46+00:00\",\"dateModified\":\"2024-06-06T16:57:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422\"},\"wordCount\":302,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/01\/Plexcoin.jpg\",\"keywords\":[\"Dominic Lacroix\",\"Plexcoin\",\"PlexCoin Fraud\",\"Sabrina Paradis-Royer\",\"Securities and Exchange Commission (SEC)\"],\"articleSection\":[\"Breaking Crypto News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422\",\"name\":\"SEC May Distribute Over $1.4 Million to Victims of PlexCoin Fraud\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422#primaryimage\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/01\/Plexcoin.jpg\",\"datePublished\":\"2020-01-03T14:26:46+00:00\",\"dateModified\":\"2024-06-06T16:57:11+00:00\",\"description\":\"The Securities and Exchange Commission (SEC) of the US asked the court for permission to distribute over $1.4 million to PlexCoin victims.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422#primaryimage\",\"url\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/01\/Plexcoin.jpg\",\"contentUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/01\/Plexcoin.jpg\",\"width\":1280,\"height\":720,\"caption\":\"SEC May Distribute Over $1.4 Million to Victims of PlexCoin Fraud\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/insidebitcoins.com\/#website\",\"url\":\"https:\/\/insidebitcoins.com\/\",\"name\":\"InsideBitcoins.com\",\"description\":\"Search & Compare Brokers within Crypto, Forex & Stocks\",\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/insidebitcoins.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/insidebitcoins.com\/#organization\",\"name\":\"InsideBitcoins\",\"url\":\"https:\/\/insidebitcoins.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg\",\"contentUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg\",\"width\":195,\"height\":32,\"caption\":\"InsideBitcoins\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/89bac294cb2c1ff5549edfa9272567ee\",\"name\":\"Sherlock Gomes\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/09\/viraj-shah-1-96x96.jpg\",\"contentUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/09\/viraj-shah-1-96x96.jpg\",\"caption\":\"Sherlock Gomes\"},\"description\":\"Sherlock Gomes loves to write and express his views on anything related to Crypto. He has been covering Crypto for more than two years now. He likes Bitcoin and Cardano. He also writes on Finance, Healthcare, and Technology among other stuff.\",\"sameAs\":[\"https:\/\/x.com\/sherlockgomes\"],\"gender\":\"male\",\"knowsAbout\":[\"Cryptocurrency\",\"Technology\"],\"jobTitle\":\"Author\",\"url\":\"https:\/\/insidebitcoins.com\/author\/sherlock\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"SEC May Distribute Over $1.4 Million to Victims of PlexCoin Fraud","description":"The Securities and Exchange Commission (SEC) of the US asked the court for permission to distribute over $1.4 million to PlexCoin victims.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422","og_locale":"en_US","og_type":"article","og_title":"SEC May Distribute Over $1.4 Million to Victims of PlexCoin Fraud","og_description":"The Securities and Exchange Commission (SEC) of the US asked the court for permission to distribute over $1.4 million to PlexCoin victims.","og_site_name":"InsideBitcoins.com","article_published_time":"2020-01-03T14:26:46+00:00","article_modified_time":"2024-06-06T16:57:11+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/01\/Plexcoin.jpg","type":"image\/jpeg"}],"author":"Sherlock Gomes","twitter_card":"summary_large_image","twitter_creator":"@sherlockgomes","twitter_misc":{"Written by":"Sherlock Gomes","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422#article","isPartOf":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422"},"author":{"name":"Sherlock Gomes","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/89bac294cb2c1ff5549edfa9272567ee"},"headline":"SEC May Distribute Over $1.4 Million to Victims of PlexCoin Fraud","datePublished":"2020-01-03T14:26:46+00:00","dateModified":"2024-06-06T16:57:11+00:00","mainEntityOfPage":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422"},"wordCount":302,"commentCount":0,"publisher":{"@id":"https:\/\/insidebitcoins.com\/#organization"},"image":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422#primaryimage"},"thumbnailUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/01\/Plexcoin.jpg","keywords":["Dominic Lacroix","Plexcoin","PlexCoin Fraud","Sabrina Paradis-Royer","Securities and Exchange Commission (SEC)"],"articleSection":["Breaking Crypto News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422#respond"]}],"copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/insidebitcoins.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422","url":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422","name":"SEC May Distribute Over $1.4 Million to Victims of PlexCoin Fraud","isPartOf":{"@id":"https:\/\/insidebitcoins.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422#primaryimage"},"image":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422#primaryimage"},"thumbnailUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/01\/Plexcoin.jpg","datePublished":"2020-01-03T14:26:46+00:00","dateModified":"2024-06-06T16:57:11+00:00","description":"The Securities and Exchange Commission (SEC) of the US asked the court for permission to distribute over $1.4 million to PlexCoin victims.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422#primaryimage","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/01\/Plexcoin.jpg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/01\/Plexcoin.jpg","width":1280,"height":720,"caption":"SEC May Distribute Over $1.4 Million to Victims of PlexCoin Fraud"},{"@type":"WebSite","@id":"https:\/\/insidebitcoins.com\/#website","url":"https:\/\/insidebitcoins.com\/","name":"InsideBitcoins.com","description":"Search & Compare Brokers within Crypto, Forex & Stocks","publisher":{"@id":"https:\/\/insidebitcoins.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/insidebitcoins.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/insidebitcoins.com\/#organization","name":"InsideBitcoins","url":"https:\/\/insidebitcoins.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg","width":195,"height":32,"caption":"InsideBitcoins"},"image":{"@id":"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/89bac294cb2c1ff5549edfa9272567ee","name":"Sherlock Gomes","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/image\/","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/09\/viraj-shah-1-96x96.jpg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2019\/09\/viraj-shah-1-96x96.jpg","caption":"Sherlock Gomes"},"description":"Sherlock Gomes loves to write and express his views on anything related to Crypto. He has been covering Crypto for more than two years now. He likes Bitcoin and Cardano. He also writes on Finance, Healthcare, and Technology among other stuff.","sameAs":["https:\/\/x.com\/sherlockgomes"],"gender":"male","knowsAbout":["Cryptocurrency","Technology"],"jobTitle":"Author","url":"https:\/\/insidebitcoins.com\/author\/sherlock"}]}},"_links":{"self":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422"}],"collection":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/users\/1730"}],"replies":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/comments?post=245422"}],"version-history":[{"count":1,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422\/revisions"}],"predecessor-version":[{"id":532825,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/245422\/revisions\/532825"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/media\/245423"}],"wp:attachment":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/media?parent=245422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/categories?post=245422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/tags?post=245422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}