After raising nearly $ 15 million by creating PlexCoin, a cryptocurrency supposed to compete with Bitcoin, Dominic lacroix asks the government to pay its lawyers.
The businessman from Quebec wants legal aid to cover the costs of his defense against criminal proceedings filed by the Autorité des marchés financiers (AMF).
His wife Sabrina Paradis-Royer who is a co-accused made the same request.
Monday, the judge Steve magnan began to hear their request, to force the state to pay their attorneys’ fees.
The couple say they are penniless since the collapse of the project that led to the blocking of Lacroix’s assets, by the AMF, in 2017.
On the PCU
Since then, the courts have ordered the reimbursement of the investors, with the sums recovered.
Accused of having made investments without a prospectus and of having given false or misleading information to investors, Lacroix continues to live, with his wife, in their luxurious residence in Charlesbourg valued at more than $ 2.5 million.
Testifying as part of his request, Lacroix explained to the judge that he no longer had liquidity and lived on the PCU.
“My credit has been completely destroyed since 2017,” said the businessman whose liabilities amount to $ 25 million, against assets of $ 2.4 million, according to his financial statement.
The 38-year-old says he uses his mother’s credit card to shop for groceries.
But government lawyers, who are contesting the request, are wondering about many of the expenses made by Lacroix, since his assets have been frozen.
Thus, he admitted to having equipped his house with a home automation system of $ 300,000.
Between November 2017 and July 2020, he also undertook landscaping work valued at $ 150,000.
During the same period, he spent $ 160,000 on the costs of four vehicles, including a Mercedes and a T-Rex.
The hearing of the motion will continue this week, with the testimony of Sabrina Paradis-Royer.
The couple who have no children feel that they will not have the right to a fair trial if the state does not pay the costs of lawyers for their defense.