PERSONAL AND UNCENSORED TESTIMONIALS BY DOMINIC LACROIX ABOUT HIS LEGAL HELL AGAINST THE AMF AND RCGT.
You will find on my website testimonies, revelations and updates about the legal hell I’ve been living for over two years. An unfair fight against the Autorité des marchés financiers and the accounting firm Raymond Chabot Grant Thornton.
A legal hell
The true and untold story about the legal hell I have been living for over two years.
Damages and losses
The loss and damages encountered as the result of this story for me as well as for the people who had their trust in me.
My companies and projects
The detailed explanation of my companies and projects. Their start and the promising future they all had.
I would like to thank you for the time you spend reading my testimonials. I wrote them as accurately as possible in order to inform the population about the truth behind my legal saga.
I created this website without help; therefore, I am sorry for any misspelling mistakes or layout problems. It is now time for you to know the truth. Have a good reading!
June 19th, 2019
* AMF = Autorité des marchés financiers
* RCGT = Raymond Chabot Grant Thornton
The true and untold story about the legal hell I have been living for over two years.
This testimonial was provided by Dominic Lacroix as a heartfelt appeal to deliver the truth behind the legal hell I’ve been facing for over two years, which destroyed everything on its way. My testimonial will be divided in three main parts, each covering a precise aspect. The first one will describe the living hell that started two years ago. An unfair fight in which I had no choice but to stand for my rights. Afterwards, I will list all the harm and damages I have experienced: the loss of my businesses, friends and family that lead to a huge legal claim for damages! The third testimonial will go in debt on what was happening before the legal fight, what my companies were meant to work on and what was planned for PlexCoin.
Readers must know that I am not trying to get their sympathy with this testimonial but to state the facts that were left untold to the public. I want to let you know the other side of the story.
I’ve been facing for over two years what some would call the fight of a lifetime. A completely unfair against the AMF (Autorité des Marchés Financiers) and the Business Accountants RCGT (Raymond Chabot Grant Thornton) who were ironically managing my personal and business finances before they were hired by the AMF to circumvent the law and start the fight that I am about to tell.
It all started in the 2017 summer, when a bailiff showed up in my office at DL Innov Inc. (one of my companies at the time), to serve me with an ex parte order. An ex parte order is meant to require an individual to do a certain thing, or to keep him from doing it, without him having a chance to defend their rights. In my case, the order prohibited me from spending any kind of money directly or indirectly. What did that mean? It meant I couldn’t pay the suppliers for my companies, or my forty employees or the owner of the office I rented at the time. It also meant I couldn’t pay my cellphone bills, my mortgage, my groceries, I was kept from buying clothes or even put some gas in my car (which I couldn’t pay either).
All my personal and business banking accounts were cancelled, my credit cards cancelled. The order was so large that it even prevented anyone from helping me. For instance, my own family couldn’t lend me 100$ to buy food. What about selling some of my belongings to earn a bit of money and be able to eat? Forbidden! I’m writing in the past tense, but I should write in the present, because this court order is still valid and has been for the past 2 years. The only way for me to leverage against this order would have been to show up in court, which costs money, which I couldn’t spend. Even if I had found a way to go to court, nothing could guarantee the success of my cause since it was this same court that sent the court order in the first place. How can we even live with court order so wide and ruthless? Is it not against any statement in our Bill of Rights?
People would tell me, why don’t you get a job at Tim Horton’s or something? Don’t forget that the court order also prevents me from opening a new banking account and/or to own money, no matter where it is from. So, it is impossible for me to work, to receive unemployment insurance or social assistance.
Following the court order, an aggressive and traumatizing search lead by the AMF went on simultaneously in my office and my residence. The forty employees under my responsibility at the time were confined in the conference room for hours, including the pregnant ones. The AMF proceeded to shady questioning with my employees without them having an attorney to protect their rights. The interrogations were so hostile that some employees would finally get out crying. Jailing threat was made to make sure they would answer. Do you think those methods are legal? It was worse than a horror movie! That day, the AMF seized persona cellphones from many of my employees and until this day, they haven’t given them back!
Two inspectors knocked at one of my employee’s house telling him he was fired (which was completely wrong) so he would turn on me and be disposed to give them any information. Talking about dishonesty!
To that day, I received more than one hundred bailiff visits mandated to issue documents. The AMF is drowning us in paperwork knowing that with the court order, it is impossible for us to get help from a lawyer for a rightful defence.
Like it wasn’t enough, many of them bailiff was told to show up on very precise dates and hours: right before Christmas, before Valentine’s Day, or even on Easter Friday, just before the three-day weekend, and the list goes on. To the readers who have never received a bailiff visit at home, I can assure you that it is a very stressful and hard-to-face experience. This method is used to in a way that breaks your spirits. These techniques are called intimidation and humiliation.
Another of their technique is the abuse of process. The method is simple, the AMF drowns in legal procedures in order to break you and discourage your attempts to get out of it. That was I’ve been going through since the last two years.
Another technique is the articles published in the media the day before or the exact day of my court appealing. In the past 2 years, I had to show up in court quite a few times in order to defend myself and every time, on the exact same day, or on the eve of my appeal, I would find an article in the main Quebec media about me. Those articles would use information that was provided by the AMF and was yet unknown to the public. The articles would have a catchy heading disclaiming false accusation and defamatory statements that would turn the readers against me and break my spirits before I had to stand up for my rights. What king of titles you ask? Lacroix, the scammer. Lacroix, the offender. The fraudster couple of Quebec. Lacroix wanted. Over and over. An important fact to grasp is that from the beginning of this whole saga, I was NEVER formally accused or even less declared guilty, so how is it that a newspaper would take the liberty to pose me as a fraudster? As an accused or even as a wanted suspect? Now you’re wondering why I haven’t sued them. Well, they knew all about the ex parte order. They knew I had no resource to sue them against their defamatory statements.
In addition, in most of those articles, a photo of my house showing my address was displayed and published. Around a hundred curious observers came sneaking around. I received death threat made in person, against which I have filed two reports with the authorities. People have thrown rocks and shattered two windows of my house. What was the means for them newspapers to publicly display a picture of my house and address if they were not hoping for this to happen?
During summer 2018th, my lawyer received a call from a police investigator. I had to show up at the police station immediately after the AMF filed a complaint for interfering with a police investigation. So, I showed up and spent a night in custody. The investigators interrogated me the day after and sent me to the closest jail waiting to meet a judge in court, where I would receive a sentence to be released or kept in jail. At the moment, I had no idea of what was happening and the reason why the AMF would file this complaint. At the end of the day, I never appeared in court, the police released me the next day, seized my passport and forbid me to leave the city of Quebec until the end of the investigation. So, the investigation came to an end three months later and lead to no accusation against me. I finally got my passport back after repeated requests six months later. I was confined to the city of Quebec for a couple months (summer of 2018th) for absolutely no reason! Another strategy of the AMF to break my spirits? Probably.
The worst is yet to come!
The AMF owns very wide investigation jurisdiction, which is easy to understand, since they have a work to do. But their authority should never be used to force a person to answer questions. It is their responsibility to state the proof of their claim.
After a year and a half of ongoing investigation and no breakthrough, the AMF managed to circumvent the law and name a provisional administrator in the matter. They chose the Raymond Chabot Grant Thornton that was still my accountants at the time. How did I learn about that? By a bailiff visit at 11 p.m. on the 5th of July 2018. My spouse and I were in bed for the night when someone knocked. It was the bailiff. Usually, a bailiff has a schedule to stick to. They can’t show up anytime at night, it was unusual! He gave me a tone of paperwork, around 2000 pages and left. No more than 5 minutes later, five persons were knocking at my door, the street was filled with police cars, around eight or ten all lights on in the night! Once again, straight from a movie! I opened the door and they were RCGT employees, mandated to investigate with all the restrictions they had put against me. It was all written in the brick I just received, but obviously I had not gone through it all just yet.
These people from RCGT came into my house and started searching everywhere, they even looked into my deceased dog urn, what a lack of respect! They seized all my computers, pocket money, credit cards, a golden ring, my cellphone and iPad, even a token collection I had inherited. The search lasted for five hours and ended a three in the morning. In the two thousand pages, it was also mentioned that I had to appear in court the next day at nine in the morning. Knowing that my attorney, who was helping me for free at the time, was living in Montreal, it was near impossible for her to be with me with the short notice.
As opposed to the AMF, RCGT could interrogate me and I had no choice but to answer. They can interrogate anyone they want, anywhere they want and anytime they want. Same for the searches, they can seize any goods, anywhere, anytime to whomever events outside the normal business hours. Their authority is so vast, I had never seen this before.
So, the AMF pursues their investigation through RCGT using their authority and forcing to answer questions they couldn’t ask by themselves. RCGT then reports all answers to the AMF.
Two main problems must be stated about RCGT.
RCGT has recently seized cryptocurrency mining equipment that did not belong to me, from people I know, pretending it was mine. The equipment was not returned to their rightful owner yet and the damages and money loss they encounter are huge!
Since 2017, I have been wanting to refund people who bought PlexCoin in breach to the Terms and Condition, meaning the buyers from Quebec and the USA. But the AMF never agreed, saying it wasn’t urgent back then and now, they are dilapidating this money, and, in the end, all these people are losing their money because of them.
These are just a couple of the many dishonest maneuver the AMF pulled in this case.
In brief, they cut all possibilities for me to defend myself with restraining orders and they drown me in paperwork and legal procedure to break me. Then they start and unending investigation charging me with no accusation, the naming of a provisional administrator Emmanuel Phaneuf from RCGT in the case to extend their authority and jurisdiction in order to intimidate me, my friends and family through so many procedures and examinations, leading to nothing but spending all the money they seized.
I haven’t talked about my company’s Micro-Prêts, FinaOne, Interaxe, Gestion and DL Innov. All companies that were destroyed in the following of the court order. Companies that were working perfectly fine, some had started over nine years ago. In which I had an overall of forty employees. I will come to that in a next testimonial since there is still a lot to say.
So, here is in some lines what I have to face every day of my life since it started two years ago. It is a never-ending nightmare causing me a gigantic amount of stress and anxiety, plus the depression and health problems. It is inhuman. At least, if I can share this information with the population, I won’t be alone facing them. This unfair fight has to stop! They have a job to do, but they must do it rightfully!
I am not the only one who suffered the AMF tenacity. The internet is filled with cases staring the AMF methods. Here are two of them, for example.
In my next testimonials, I will go through all I lost in the past two years, what my friends and family lost with the Micro-Prêts case and what the PlexCoin buyers lost, what my forty employees lost! A huge damage that will never be repaired. Nine hard-working years to build companies destroyed in a day. My name is destroyed and this name, it’s the only one we have. All this leads to the legal claim for damages I am filing against the AMF and RCGT. One of the most unlikely lawsuits initiated by an individual they will face in their lifetime.
I will end my third testimonial explaining how some of the companies I owned were working, what I was doing with them and why I was doing so. Some of these companies were started nine years ago with money I earned from selling my car. Companies that were helping more than fifty thousand clients in 2017. They were exponentially growing, from three to forty employees in less than eighteen months.
If you have questions or comments, here is my email address where you are free to write. I will read you all without exception.
Thank you for your time,
June 27th, 2019
* AMF = Autorité des marchés financiers
* RCGT = Raymond Chabot Grant Thornton
The loss and damages encountered as the result of this story for me as well as for the people who had their trust in me.
Two important points before I start:
First of all, I would like to thank all of those who wrote to me after my first testimonial. I received an impressive amount of encouraging emails and it was a pleasure to reply to them all.
Secondly, I am pleased to inform you that we have reached a preliminary settlement with the staff of the Securities and Exchange Commission (SEC) that we signed on June 25th. This settlement will be submitted to the SEC’s direction for approval in a few weeks. If it is approved, we will be happy to have resolved our differences with our neighbors to the south.
Secondly, I’m happy to announce that we struck a preliminary ruling with the customer service at the SEC (Security and Exchange Commission) signed yesterday June 25th. This agreement will be submitted to the SEC’s direction approval in a couple weeks. If it is approved, it should end the legal procedures. If so, we will be glad to have finally solved our conflict with our southern neighbours.
In this second testimonial covering the case against the AMF that has been going on for over 2 years, I will explain my side of the story about the main losses caused by this quarrel. Not only material losses, but also of trustworthy people, friends, business relations and more. And not to forget the most important, the loss of some family members.
The damages did not only affect myself, but also all my relatives, people that were trusting me, some that tried to help. The damages the AMF spared no one!
It is extremely difficult these days not to let ourselves be biased by the omnipresent media. The way we see a person can easily be influenced when we can see only one side of the story.
When we read an article in the media’s ongoing about a person we don’t know, quickly, we can be shocked, but it goes away as fast since we read so many articles every day. But when we know the person, we are reading about; it is completely different!
If you went to school with that said person or even if you have only just met them at a part, you will have a completely different reaction, you will want to share the news with your friends, who will do the same with this biased idea they have, and without knowing this person’s side of the story.
Where I am going with this is that, the sharing and negative commenting do not only affect the person who is mentioned in the article, but all their relatives, family, friends, business relations, boss, and more on. All these people will want to come to their defence and will find themselves in a very uncomfortable and hard to deal with the kind of situation.
Damages and losses for my business
At the moment, I own no more companies. All of them were closed or put in bankrupt. Those were 5 companies on the right track, promising companies that were employing over 40 Quebec citizens. All people that have a family and used to love their jobs.
When I received the ex-parte order in June 2017, forbidding me to spend a single cent, my first thought went to my employees. How would I pay their salaries? How would I give them their 4%, their holiday pay? Like I said earlier, some were pregnant, others were about to move. I had all these people under my responsibility, people that I respected, that were trusting me and who were counting on their salaries to feed their families.
The very next day, I wrote a letter to the AMF to inform them of the situation my employees would go through, but they wouldn’t hear a thing! Moreover, they didn’t even believe that DL Innov employed forty persons.
Yet, our address was public, and we were located in a 10 000 square foot office on Lebourgneuf Boulevard in Quebec City, which, if I’m right, is just a ten minutes’ drive from the AMF’s office. They could have come and see for themselves, couldn’t they?
DL Innov was my managing company, which means 100% of my employees were under DL Innov’s contracts and my other companies were also managed by DL Innov.
We’re talking about Micro-Prêts, FinaOne, Gestio and Interaxe, all well-functioning companies that had nothing to do with the PlexCoin cryptocurrency project.
All these companies were put out of business by the blocking orders.
The following numbers are an approximate and are divulged out of my memory. Therefore, the real numbers, to which I don’t have access might be slightly higher or lower.
One of the most important companies that are important to mention is Micro-Prêts. This personal loan broking company was in business for nine years at the time and counted over fifty thousand customers in the Quebec Province. All of them clients were satisfied with the service they received. My employees and I were proud of this business that was helping clients in its own way.
Micro-Prêts was helping its customer with small, 500$ worth loans repayable over three months in case of emergency or unexpected needs. When the problems started in June 2017, this company was worth over 12 million in receivables. This money was paid by our customers religiously every Thursday by direct debit transfers. The court orders were also sent to the banks I was in business with and they were forced to freeze all my companies’ accounts. This meant I couldn’t withdraw any money to pay my employees, but also, I couldn’t deposit any payments from my clients.
The problem with that? What were we going to do with these 12 million owed to the company? In the letter I sent to the AMF after I received the order, I begged them to let us keep an account opened in deposit mode only, so that our clients could keep repaying their loans and we could collect this money without being able to withdraw it. But the answer from the AMF was short: “You have no clients”!! What?!
So, we printed a list of our 50 000 clients with their name and phone number and sent a secured copy to the AMF so they would acknowledge it, but their answer was just as surprisingly frustrating as their first answer: “You invented that list”.
Then, according to their saying, I would have invented fifty thousand names and phone number in a couple hours? It was absurd. Each one of our clients had signed a contract before receiving any amount of money. It was that easy to validate the information I had sent if they wanted to.
The result? Our clients NEVER had the possibility the repay their loan and the company lost millions because of the AMF, who never wanted to believe us. I will never understand why this request was not granted.
This was a very important damage that leads to an even bigger one.
When I founded Micro-Prêts in 2008, I had no money and no bank would help me. I was the first in the province of Québec to offer this kind of service. I would have needed this kind of service a couple years before, but after some research at the time, I found out it did not exist.
I had to sell the only thing I owned that had a real value. It was a 5000$ worth car that I cherished.
I launched my first company with those 5000$ and so I started by loaning 500$ to 10 clients who needed it. I had the company grow from 10 clients and no employees to fifty thousand clients and forty employees in less than nine years with no help from the banks.
After a couple years, the demand was so significant for my personal loan business that I tried to approach banks to get a loan and raise my working capital, but I was like a small competitor to them, so they refused. After that refusal, my family and friends offered their help!
These people put their trust in me and my business. They loaned money to Micro-Prêts so that it would be able to get more clients and hasten the company’s growth. In exchange for their investment, the company would offer a very generous return going from 15% to 40%! Yes, it was enormous! But the company was making a lot of money, so why not share the results with the people who made it possible?
The company was NEVER late on the paybacks and would refund anyone who wanted out until that day in June 2017.
Since that day, the company was never able to pay interest returns and even less refund the people who trusted it, who trusted me. My friends, my family!
Over 5 million were owed to some 50 individuals (friends, family and businesses) and were lost. Some of these people had put everything they had into that business. All of them will tell you, before June 2017, everything was going great. They received their gains, and everyone was happy!
Some of these people had to declare bankruptcy, some don’t talk to me anymore, they are frustrated, and I understand their feeling! But what is important to understand is that if the AMF had agreed to my simple request to recollect the owed amounts of money, ALL of them would have received a refund, all without an exception and a long time ago.
All I wanted was for those people to receive was they were owed.
They have lost their money, I have lost 50 persons that were important to me, persons who trusted me, helped me with my projects, and someone’s trust is not something you can buy. This is serious!
Damages and loss on PlexCoin buyers
In the past years, many articles published in the media were describing me as someone with high living standard, with a big house, nice cars and that it was all bought with money made with the PlexCoin project.
What they are not saying is that this house, and those cars, I had bought them before I even had the idea of PlexCoin. Yes, I had money before PlexCoin, and I worked hard to earn it. I sacrificed 9 years of my life putting 100 hours of work a week in my companies.
It is normal for the readers to be upset when they see the articles and hear about the allegations from the AMF saying I still have a lot money. The articles show my house without giving any details. Like most entrepreneurs, I started for the bottom, a miserable salary and I made my way up over the years.
I had the idea to launch PlexCoin cryptocurrency shortly after I found an interest in Bitcoin and its technology. An entrepreneur is a person who notices a problem or a need and creates a solution for it! In 2016, I thought that it was complicated for a person to buy cryptocurrency. So, I decided to create my own cryptocurrency and make it easier to access and to use.
We worked hard on the development of this project. I met with my attorneys, my accountants, tax advisors, financial advisors and strategists. All of them were employed by Raymond Chabot Grant Thornton, except for the attorneys, in order to launch a perfect project!
I can’t elaborate on this subject because of the ongoing investigations with the AMF. I still can tell you about the resulting damages.
The PlexCoin cryptocurrency was initially sold at 0,13$ and increased to 0,81$ before it all went sideways because of the AMF procedures. We tried to maintain and develop the project as long as possible (even if there was no potential income for us), but my employees at the time had all received a formal notice from the AMF forbidding them to work on the PlexCoin project, or they would be sued. After that day, the project died.
The PlexCoin value fell and is now worth around 0,003$. Some buyers had time to sell their PlexCoin before the fall, other was refunded by the bank, but some lost it all.
Two main points in this case that few people know about
After the end of the presale in 2017, we asked the AMF, that froze our accounts, an authorization to refund the buyers from Quebec, because it was prohibited for them to buy PLexCoin, as mentioned by the terms and conditions. But their answer was unequivocal: “There is no rush”. 2 years later, these people have not received a refund.
When I was forced to give back the 420 Bitcoins I had in court on the 6th of July 2018, I had only one demand: not to sell them! I wanted to let them in a secured wallet until the end of the procedures. In my memory, I had received confirmation that the 420 Bitcoins would not be sold. But no longer than 3 weeks later, Emmanuel Phaneuf, the provisory administrator at Raymond Chabot Grant Thornton managed to convince the judge that the Bitcoin value would drop. So, they proceeded to the block sale of the 420 Bitcoins which resulted in an amount of around 4,410,000$ (420 X 10,500$). I was in total disagreement with this decision.
At the time I am writing these lines, the Bitcoin grew to a value of 18,000$, which would mean the 420 Bitcoins I specifically asked not to sell would be worth 7,560,000$. A non-negligible loss of 3,150,000$ and it keeps growing every hour.
Personal damages and losses
My partner and I also lost everything in the past 2 years: house, car, insurance and our credit rating is destroyed. All our belongings were seized, banking accounts, credit cards, we have no attorney, no income, etc.
Before the search at my place in August 2017, I owned two dogs that were like my kids. My bigger one, Paco (on the picture of my website cover) and its sister Mika, 2 formidable retrievers. The search was so stressful and traumatizing that Paco got seriously sick in the following days and died. So, I consider Paco’s passing as part of the damages caused by all of this. He was in great shape and had just turned 7. This was the most difficult event of my life. People who have lived in the same will understand.
Some family members stopped talking to us and we do not hold it against them since they were also connected at could read the articles calling us scammers. They went their own way until some came to know the real story, but some never came back.
Material losses are what they are. Yes, I have worked hard to earn all of this, but nothing keeps me from starting over when I have the opportunity. It will be hard to build our credit rating back up, or even to find an insurance company that will want us as clients. The most challenging part is the collateral damages, all the stress this case made us, our family and friends go through. They don’t understand why it’s not over yet and why it does not seem to move forward.
For all these reasons and some more, we are planning to sue for damages and losses both the AMF and RCGT. In this file, we will clearly explain that the amounts we ask for will be in the first place saved for our relatives, friends and family who lost everything in the closing of Micro-Prêts. They need to be refunded as they should have a long time ago. Suppliers and entrepreneurs who we cannot pay at the moment will also be paid fully. They have also worked and earned their salary.
My ex-employees also deserve a compensation for all they have been through.
In my third testimonial, I will explain in detail the way all of my companies worked, why I started them and what I had planned for them!
Thank you again for the time you are allowing reading my testimonials.
I encourage you to share my website www.dominiclacroix.com, the media article or the Facebook post that leads you here.
If you have any questions or comments, I leave you my email address and I will read you all without an exception.
Thank you for your time,
July 10th, 2019
*AMF = Autorité des marchés financiers
*RCGT = Raymond Chabot Grant Thorton
The detailed explanation of my companies and projects. Their start and the promising future they all had.
Once again, I would like, before I start, to thank all those who wrote to me after the publishing of the second testimonial. It is with pleasure that I answer all the email I receive. You also were a handful to subscribe in order to be notified of my website’s updates. You support means a lot.
This testimonial might be less striking than the two previous ones, but I thought necessary to write it so I could complete my “story”.
The purpose is to show my growth in a shorter version of my journey as an entrepreneur. Where I started from, how I came to the idea I had, and where I was going with it.
My name is Dominic Lacroix, I am now 37 years old and I was born in Sherbrooke, Quebec, Canada. My parents divorced when I was 7 and I have a younger brother that is 33 years old.
As far as I can remember, I have always been full of ideas of projects and inventions. Even when I was very young, I would try to invent many things, I would disassemble small electric engines, I would make gravity water transfer experiments. I even had a wire system in my bedroom to open the lights, the door and the television. I would rather stay isolated to discover and learn new stuff instead of going outside to play with the other kids.
Around age 5 or 6, I had my very own office in the basement where I would make my calculation and count my money. My dream at the time was to become an accountant when I grew up. Pretty unusual for a kid that age.
In my teenage years, I started to be interested in data processing. It should be recalled that a computer was very pricy at the time and my mother could not afford the newest release (after my parents divorced, I lived with my mother). My first computer, if I remember right, was an IMB 486 with a 16 megabytes dynamic memory!
I was spending most of my time in front of a computer and the internet did not even exist at the time. I was playing little games, erasing all the content on my computer and reinstall all programs twice a month. I loved it.
My first “company” was a BBS (bulletin board system). For those who don’t know what it is, a BBS is a system/software that was created and installed on my computer. People from around the world could call my home phone number with their computer and connect on mine. I would allow them to use games, music and folders. I had some members who would pay, I think, 5$ a month for a subscription. It was like a little internet.
Times and technologies have changed a lot since.
I was not the best at school, I didn’t have many friends either, I would rather stay at home and work on my computer that attempt friends’ parties. I felt that high school was useless. Why should we learn important dates that belonged to the past like World War I? Or why learn mathematics and division?
I still wanted to get into college in the informatics program, but I was too expensive.
After high school, I worked a lot of jobs. I could never stay in the same place, whether because I didn’t like the type of work, or because I wasn’t making enough money. Any reason was a good one to leave and find something else.
I couldn’t see myself working at the same place for years and to the same work day after day. I wanted to create something, develop or improve something and most importantly, not having a “boss”. My dream at this time was to be my own boss and to learn enough money to live from it.
Around age 18 or 19, I started going out to clubs and I quickly noticed that underaged 16 or 17 kids would try to come in and have fun too, but it was forbidden by the law. It is at this time that I had the idea to find a room and have parties for the underaged who couldn’t get into clubs.
So, I rented a big church basement, I hired a DJ, I hired two persons to help me, one at the door and the other one at the juice bar inside, where I would sell chips and soft drinks.
I printed posters and distributed them in 2 high schools of the neighbourhood.
I was an immediate success! The basement I rented was huge, but there wasn’t enough room for the first 500 kids that showed up to my “party”. Kind of unexpected for a lonely kid of spent most of his time locked up with a computer would manage to create this project and make it work. A certain amount of resourcefulness was needed, I think.
I had found a problem, I had created a solution and, in addition to that, it was profitable!
I hosted a second edition, then a third and more on. The party would get bigger every time. For the last “party” I hosted, I rented the main arena in Sherbrooke and my target clientele was no longer the underaged but the majors this time. All colleges and university were aware of the event, I had publicity going on the radio, entrance bracelets, an alcohol license, a partnership with Molson and bus shuttles. It was huge!
I had to stop this enterprise short after, because I was now directly competing with bars in the region. I received threats from their owners as I “stole” their usual customers. I stayed on good terms with them and even was a doorman for two years at La Commission des Liqueurs in Sherbrook afterwards.
I was constantly aware of any opportunities. When I went someplace new, I would look everything wondering: “Could I do better than that?” “Could I invent something to improve this?”
After that, I worked at Dalkotech, a metal truck pieces manufacturer. I was a machinist there for 4 years. I learnt how to work a digital tower without any special training, only a high school diploma. I was the only employee in the shop who hadn’t gone through the 2 years schooling and training for the machinist diploma.
My salary was low, I didn’t have a good income, the end the month was hard. I was working at Dalkotech during the day and in the bar at night. To that day, I still remember and will never forget that coworker who was around twenty years old and lost his thumb in a work accident. It was on that day that I decided to leave Dalkotech and launch my own company. I didn’t know what I wanted to do, but I wasn’t going to keep working for a miserable salary and risk my health in an accident me too.
I understand the need for workers in factories like anywhere in the world, but personally, I wasn’t happy and wanted more in my life.
When I left my job, I had no savings. I tried going to the bank and ask for a loan to pay my rent. I tried a couple of them, and none would lend me 300$ or 400$. I didn’t need more than that, I only needed the money for my rent.
It was at this time that I realized I probably wasn’t the only one who came to need a small and quick loan like that. I did my research and a couple days after; I knew that no bank would allow this kind of loan. The only option was to get a bigger loan, a couple thousand, granted by the bank.
I had found my problem and I knew the solution! I would create a company that would allow quick and small loans for unexpected events, without moving.
I worked a few weeks on my business plan, I drew my logo, bought my domain name, created my website. I was working non-stop and almost didn’t sleep.
But, in order to lend money, I had to own money and I didn’t have any. The only valuable thing I owned was a Jeep Grand Cherokee that I loved (5000$). I had no choice, I had to sell my Jeep to make my first steps and launch my company.
I developed and improved my system for months. It was complicated and I had no help as I was the only one to offer this kind of service and couldn’t find inspiration from another company.
Story short, I started with a client to whom I loaned 500$ that I deposited myself in his account. Then I hired a programmer months later to optimize my clients managing. I had to move in Québec City to find the most experienced programmer. My first office was 150 square feet, it was microscopic.
From 2009 to 2017, I moved 4 times my office to end up in a 10 000 square foot office on two levels in the Lebourgneuf complex in Quebec. I went from 0 to 40 employees. In 2009, I was managing my clients on a piece of paper, then I switched to Microsoft Excel, to an accounting software and then to my own customized software that met all my needs. It was conceived by the programmers I hired and cost more than a million to develop.
The company was growing fast. To give you an idea, in 2016, we were 25 employees and only 6 months later, in the summer of 2017, just before the AMF blocked everything, we were 40 employees. I was planning to end the year of 2017 with 65 employees total.
The company had over 50 000 clients in the province of Quebec and we were known as the go-to company for urgent money needs. Obviously, in 2017, we weren’t the only ones offering this service anymore. Dozens of companies were offering the same thing, but none had the same level of technology and client service quality. My 40 employees would tell you the same, we were the best.
Our Facebook page had to itself over 46 000 members:
Micro-Prêts meant over 50 000 clients through Quebec and over 12 000 000$ in receivable accounts.
DL Innov Inc:
DL Innov was my managing company. All of my employees were hired by DL Innov and were then mandated to work tasks for companies that DL Innov owned. For example, Micro-Prêts belonged to DL Innov.
The Quebec’s office was rented under the name of DL Innov. I had created this company for two main reasons. The first was to create a kind of structure that I thought was best at the time. The second was to avoid having providers that would have Micro-Prêts as a direct client.
We were in direct competition with banks and our type of enterprise was no well appreciated of banks and providers. It was easier to go under the name of “DL Innov company managing” than “Micro-Prêts, personal loans”.
I employed a dozen programmers working only to improve and develop my projects. The managing system I had conceived for Micro-Prêts was so well working and user-friendly that it had to be marketed. So, I contacted my competitors and told them about my software, what it could do and the enormous amount of time they could save using it.
So, I started to lease my software to direct competitors. Gestio became a software conception company. Many accounting software exists, but they are made in a general perspective. Some companies had specific needs for their clients managing systems and they couldn’t find it the main existing accounting programs.
Gestio’s teams would meet the client, validate their needs and develop the perfect managing app for them. Then they would lease it.
Here is a quick example;
We were meeting a dentist and were wondering what exactly he would need in his managing program to make his job easier. He could ask for whatever he wanted. Conceiving a managing software takes time and costs a lot of money. Most clients didn’t have the resources to develop their own app that would have easily cost hundreds of thousands. With us, it was free. We developed the app with our own resources, and once it was ready, the client would rent it.
The perk? After developing the perfect program, we were able to go to other dentists and sell them this program, customized for their needs!
Micro-Prêts was very popular, but our website was French only and we could only accept clients from Quebec. Many Canadians living in other provinces wanted access to our personal loan service.
I consequently developed FinaOne as a copy of Micro-Prêts made for people living outside the province of Quebec. FinaOne was even more evolved than Micro-Prêts, the loan request process was as simplified as possible. I hired bilingual staff in the office, and we started the company in 2015.
FinaOne meant about 9000 clients through Canada and 3 000 000$ in receivable accounts.
When we operate a company, we always try to improve it and reduce the operating costs. The most expensive part in Micro-Prêts managing was the deposit and withdrawal system. To charge the regular payments to our client’s account, we needed a direct transfer system from another company. The cost for this service was exorbitant.
So, one day, I reunited my programmers and said: we are going to create our own direct withdrawal for our two companies and when it is on the point, we will create a website and offer our services to other companies.
In six months, we had Interaxe developed, we were associated to a big Canadian bank and were ready to offer our services. We started with our direct competition in loaning business. Our system was more advanced, faster and less expensive than the competitor’s. Our clients loved it!
Interaxe meant thousands of transactions, direct withdrawal and deposits every day.
I wasn’t done with my ongoing project that I already had other plans in mind. I had the programming team, I had the financing resources, I had the managing team ready to handle the project once it was done. I had everything I needed to develop my own projects!
My programmers were always working on two or three projects at a time. I wanted more, I wanted faster, I was hiring, I was growing up, I had a lot of ideas.
Projects and Ideas
A mobile app to prepare in advance your drive thru orders in your favourite restaurants. Pay online and make a quick stop to pick up your order. For example, make up your favourite Subways sub, share your perfect recipe for your sub on social media, count your calories, pile up your points. Now in 2019, many restaurants offer this online order service.
Snakee didn’t have time to see the light of day.
Control, verify and consult your credit file. Finastars would have been the perfect program for people with finance problems or with a low credit rating.
Finastars didn’t have time to see the light of day.
A credit rating system for quick loans companies. Traditional credit systems in Canada, Equifax and Transunion don’t take account of small transactions made by the consumers.
With FinaScore, we wanted to give the resources to the loaners so they could consult clients credit files without having to send a request to Equifax. Data in Equifax are slowly updated and mostly useless.
With FinaScore, a trader would have been able to consult his client’s credit history, including his small loans history without having to ask the credit bureau and negatively affect his rating.
FinaScore didn’t have time to see the light of day.
A real estate managing system allowing landlords to effectively manage their renters, leases, payments, requests, client’s history, etc.
A software that would have had a lot of success!
Immosky didn’t have time to see the light of day.
I put the PlexCoin project in this section, because we never had time to finish this project. As I explained in my second testimonial, I can’t tell any more details of this project because of the ongoing investigation.
I assure you that one day, I will write the complete testimonial of the PlexCoin case with all details, but only when this legal hell is over.
These are all ideas and concepts I remember about. All their corporate identities were ready, business plans too, because I was the only person working on it. Their conception was on hold as my programmers were already busy with other companies and projects.
I started with nothing, no money, to grow slowly with my projects and employees. I was learning at the same time how to manage a team, how to be a boss, how to manage finances, projects, time!
I have no training outside of my high school diploma.
What I have is determination and confidence!
Before 2017, I had a personal website on which I was briefly explaining my journey and companies. On this website, you could read these three important quotes:
I always wanted to innovate and develop new companies that would offer something new or something better. I have stopped for more than two years now, I do nothing outside of trying to defend myself against the AMF or RCGT. I can’t work, I can’t start new projects or launch new companies.
I already lost two years of my life because of this unending investigation of the AMF and RCGT. I lost all my employees, all my companies, all my projects and ideas, all my domain names.
I am eagerly waiting for the day I can start again to create, develop and recreate a family that I will love to meet every day to work, to innovate!
I am hoping that the reading of my testimonials will have enlightened you on my legal hell, its consequences, my projects and myself!
Thanks to my love who is supporting and encouraging me, my family and friends who are always believing in me.
If you have questions or comments, I leave you my email address and will read you all without an exception.
Thank you for your time,
Cryptonews : Le créateur du Plexcoin aurait passé une entente avec le gendarme américain.
Conseiller : Le créateur du PlexCoin dénonce un «enfer juridique».
Journal Métro : L’inventeur du Plexcoin lance «un cri du cœur».
Journal Métro : Plexcoin : «L’AMF contourne la loi avec Raymond Chabot Grant Thornton».
Journal Métro : Dominic Lacroix: «Je ne cherche pas à faire pitié».
Cision : Communiqué de presse - DL Innov rétablit les faits.
+ Event Details
The settlement with the staff of the Securities and Exchange Commission (SEC) that we signed on June 25, 2019 was accepted today on August 8, 2019. The legal case is therefore officially completed in the United States.
No charges were laid against Dominic Lacroix in this case.
We are pleased to achieve this settlement with the SEC, in which we are cooperating with the SEC to ensure that U.S. purchasers of PlexCoin will be eligible to receive a refund from the SEC.