Canadian Crypto Trio Conned Investors Out Of $8M, Feds Say

Law360 (July 27, 2020, 6:12 PM EDT) — Federal prosecutors in Ohio have announced criminal charges against three Canadians who allegedly orchestrated an $8 million cryptocurrency scam.

An indictment filed July 23 by the office of the U.S. Attorney for the Northern District of Ohio names a trio of Quebecois, Dominic Lacroix, Yan Ouellet and Sabrina Paradis-Royer, and claims they used a digital asset firm called PlexCorps to collect millions of dollars from investors by representing that they were holding an initial coin offering for their cryptocurrency PlexCoin.

“The defendants and their co-conspirators regularly transferred investor funds from the PlexCoin ICO into fiat currency accounts, and cryptocurrency addresses belonging…

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