The United States Securities and Exchange Commission (SEC) submitted new documents in further support of its former application for a preliminary injunction against cryptocurrency company PlexCorps, according to the report of news media Financefeeds.
As it was stated, The SEC noted that newly discovered evidence demonstrates that the defendants spent thousands of dollars on numerous Facebook advertisements that promoted the PlexCoin ICO as an investment opportunity.
Regulator also provided additional details as to how founders of PlexCorps, Lacroix and Paradis-Royer misappropriated a portion of the PlexCoin ICO funds for personal use.
It was earlier reported that SEC intended to punish the organizers of PlexCoin ICO for misleading investors. The regulator appealed in September to the District Court of New York with a petition to impose sanctions on the organizers of the fraudulent crypto scheme PlexCoin Dominique Lacroix and Sabrina Paradise-Royer.
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