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5I ih Plexcoin inventor wants his defense to be paid for by the state - The Times Hub

Plexcoin inventor wants his defense to be paid for by the state

Plexcoin inventor wants his defense to be paid for by the state

In addition to defending himself against the Autorité des marchés financiers, cryptocurrency inventor Dominic Lacroix was recently ordered to pay more than $ 1 million to two lenders he had stopped repaying since 2017.

• Read also: The tax authorities claims $ 8.5 million from the inventor of Plexcoin

• Read also: Six months in prison for the creator of PlexCoin

More than three years after being the subject of a freeze order from the AMF, Dominic Lacroix now faces three counts of offenses under the Securities Act, namely of having proceeded to investments without having an investment contract.

However, in anticipation of this case, the businessman, who says he is penniless, asks that his legal fees be paid by the state under a Rowbotham petition.

Since 2017, the assets of the one who created a cryptocurrency supposed to compete with Bitcoin have been the subject of debate.

Dominic Lacroix had sold Plexcoin to around 7,000 investors, which allowed him to cash in up to $ 15M.

Lacroix says he has lived off the PCU since last March, but still lives in his luxurious house in Charlesbourg, valued at $ 2.5 million.

Accused of contempt of court for not having made an account reprint as requested, he faltered this summer after three weeks of detention by finally agreeing to establish a precise balance sheet of his assets.

He must repay $ 1 million

Moreover, Dominic Lacroix was ordered at the beginning of the year to reimburse two lenders for a sum of $ 1,050,000.

In June 2017, he borrowed $ 424,000 at an interest rate of 42.5%, but stopped paying interest at the monthly cost of about $ 7,520 a year later.

A judgment ruled in favor of the lenders, so that Dominic Lacroix owes them just over a million dollars. A legal mortgage was thus taken on his luxurious house in Charlesbourg so that the lenders could recover their money.

However, it should be noted that the Canada Revenue Agency and the Lacroix mortgage lender also have visions on the residence in order to recover amounts owed.

Debates surrounding the Rowbotham petition continue this week.

www.tvanouvelles.ca

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