Triglobal

Press Releases

  • April 27, 2011
    Triglobal - 2007-033 - Service of request for freeze order extension
  • March 7, 2011
    Triglobal - 2008-004 - Freeze order extension
  • February 16, 2011
    Triglobal - 2008-004 - Notice of hearing
  • January 31, 2011
    Triglobal - 2007-033 - Freeze order extension
  • January 7, 2011
    Triglobal - 2007-033 - Service of request for freeze order extension
  • October 7, 2010
    Triglobal - 2007-033 - Freeze order extended
  • September 15, 2010
    Triglobal - 2007-033 - Service of request for freeze order extension
  • July 15, 2010
    Triglobal - 2007-033 - Freeze order extended
  • June 28, 2010
    Triglobal - 2008-004 - Service of request for freeze order extension
  • June 11, 2010
    Triglobal - 2007-033 - Freeze order extended
  • May 21, 2010
    Triglobal - 2007-033 - Service of request for freeze order extension
  • March 23, 2010
    Triglobal - 2007-033 - Freeze order extended
  • March 5, 2010
    Dossier Triglobal - Special mode of service for two "Requêtes en autorisation d'appel"
  • February 19, 2010
    Triglobal - 2008-004 - Request for freeze order extension 
  • February 12, 2010
    Triglobal - 2007-033 - Freeze order extended
  • January 22, 2010
    Triglogal - 2007-033 - Service of request for freeze order extension
  • November 26, 2009
    Triglobal - 2008-004 - Freeze order extended
  • November 6, 2009
    Triglobal - 2008-004 - Method of service in connection with request for freeze order extension
  • October 21, 2009
    Triglobal - 2007-033 - Freeze order extended
  • September 24, 2009
    Triglobal - 2007-033 - Method of service in connection with request for freeze order extension
  • August 4, 2009
    Triglobal - Freeze order extended
  • June 26, 2009
    Triglobal – 2007-033 - Freeze order extended
  • June 16, 2009
    Triglobal - Clarification of June 9, 2009 news release
  • June 9, 2009
    Triglobal - BDRVM dismisses application to lift freeze orders
  • May 27, 2009
    Triglobal - 2007-033 - Method of services in connection with request for freeze order extension
  • April 7, 2009
    Triglobal - 2008-004 - Freeze order extended
  • March 17, 2009
    Triglobal - 2008-004 - Method of service in connection with request for freeze order extension
  • March 9, 2009
    Triglobal - CTO maintained against Mario Angelopoulos; further prohibited from acting as adviser
  • February 27, 2009
    Triglobal - 2007-033 - Freeze order extended
  • February 9, 2009
    Triglobal - 2007-033 - Method of service in connection with request for freeze order extension
  • January 8, 2009
    Triglobal - 2008-004 - Freeze order extended
  • December 18, 2008
    Triglobal – 2008-004 : Application to extend freeze order served
  • December 5, 2008
    Triglobal - Freeze order extended
  • November 14, 2008
    Triglobal - Application to extend freeze order served
  • October 29, 2008
    Clarification in matter of Triglobal
  • October 15, 2008
    Triglobal - Freeze order extended
  • July 30, 2008
    Triglobal - Freeze order renewed
  • July 8, 2008
    Triglobal - Freeze order renewed, other decision (pdf - 41 KB)This link will open in a new window
  • February 22, 2008
    Triglobal - Jean Robillard appointed provisional co-liquidator of Focus
  • February 7, 2008
    In the matter of Triglobal - Order to cease trading and acting as securities adviser against Mario Angelopoulos
  • January 29, 2008
    Triglobal Capital Management Inc. - Additional provisional administration and further freeze and cease trade orders
  • December 27, 2007
    Triglobal Capital Management Inc. - Provisional administrator appointed and freeze and cease trade orders issued 

Décision du Bureau de décision et de révision en valeurs mobilières - Available in French Only 

Mount Real

Background

On December 7 and 8, 2005, the Autorité des marchés financiers (the “AMF”) conducted searches in eight locations related directly or indirectly to what became known as the “Mount Real Group.” The Mount Real Group consists of more than 120 companies incorporated in different provinces, such as Alberta and Québec, and different countries, such as the United States and the Bahamas as well as Canada. It also includes directly or indirectly more than 15 individuals acting as directors or officers for these companies. Transfers of directors and officers were made repeatedly within these companies at various times.

During the searches, the AMF seized more than 350 boxes of documents as well as computer hardware and electronic equipment representing more than 41.5 gigabytes. Some of the documents were seized in the offices of a lawyer; they had to be immediately sealed and placed in the custody of a sheriff at the Montréal courthouse in order to ensure solicitor-client privilege. The obligation to place those documents under seal gave rise to a long series of motions and arguments for access made before the courts.

In November 2005, at the request of the AMF, the Bureau de décision et de révision en valeurs mobilières (BDRVM) issued various freeze and cease trade orders in respect of numerous individuals and corporations related to Mount Real.

Also in November 2005, at the request of the AMF and on the recommendation of the BDRVM, the Québec Minister of Finance appointed a provisional administrator, Jean Robillard of the firm Raymond Chabot Grant Thornton.

To proceed with an analysis of the documents seized, the AMF drew on the services of five full-time investigators for more than three years. As well, four lawyers handled the matter.

Status and update ? Prosecution of representatives

On January 24, 2007, the AMF initiated penal proceedings before the Court of Québec against 24 individuals involved at various levels in the matter of Mount Real Corporation and its subsidiaries. The AMF filed 619 charges against these individuals for:

  • acting as a securities dealer or adviser without being registered as such with the financial market regulatory authority, thereby violating section 148 of the Securities Act, R.S.Q., c. V-1.1 (the “Act”);
  • aiding, by act or omission, Mount Real Corporation, Mount Real Acceptance Corporation, MRACS Management Ltd. and Real Vest Investments Ltd. with the distribution of a form of investment governed by the Act, namely, promissory notes issued by the above-mentioned corporations, without a prospectus approved by the AMF, thereby violating sections 11 and 208 of the Act;
  • making misrepresentations to investors, thereby violating paragraph 1 of section 197 of the Act.

The individuals against whom the AMF filed charges are as follows:

Christophe Balayer Laraine Lyttle Guy Prescott Paul Quenneville
Enrico Bruni William Marston René Proteau Paul Messier Jr.
Anthony Cappellano Yves Mechaka Fayza Rifai Armando Ferruci
Éric Couture Roberto Milzi Sylvie St-Denis Carole Dorion
Luigi Muro Yves Tardif Marc-André Froment Nick Mylonakis
Jaime Lao Wan Lian Francesco Iacono Antonella Niro Victor Lacroix

The 24 representatives facing penal proceedings have been heard before the Court of Québec (see press releases below). Only one representative (Enrico Bruni) has been acquitted.

Status and update ? Prosecution of officers

On September 22, 2008, the AMF initiated penal proceedings before the Court of Québec against five officers involved at various levels in the matter of Mount Real Corporation and its subsidiaries. The AMF filed 682 charges against these individuals for:

  • aiding, by act or omission, various corporations related to Mount Real Corporation with the distribution of a form of investment governed by the Securities Act without a prospectus approved by the financial market regulatory authority, thereby violating section 11 of the Securities Act, R.S.Q., c. V-1.1 (the “Act”) (285 charges);
  • aiding in making a misrepresentation that could influence the market price and the value of securities, thereby violating section 196 of the Act (252 charges);
  • aiding in making a misrepresentation in soliciting proxies or sending a circular to security holders, in a document or information filed with the AMF or one of its agents and/or in a document forwarded or record kept by any person pursuant to the Act, thereby violating section 197 of the Act (145 charges).

The officers against whom the AMF filed charges are as follows: Lino P. Matteo, Paul D'Andrea, Joseph Pettinicchio, Laurence Henry and Andris Spura.

It should be noted that the AMF filed 308 charges against Lino P. Matteo alone, seeking penal fines of $204 million in addition to a prison term.

To date, one of the officers has pleaded guilty to the charges filed against him. Following the investigation, Paul D'Andrea offered to co-operate, admitted he was guilty, and pleaded guilty on September 18, 2008 to 131 charges.
The AMF is seeking a joint trial in this matter. The date of the trial has not yet been set.

It should be noted that since the searches conducted on December 7 and 8, 2005, the AMF has brought several motions before the Court of Québec and the Superior Court of Québec, including:

  • motions to have the documents seized turned over to an independent third party;
  • a motion to examine the documents seized;
  • a motion to lift the solicitor-client privilege;
  • a process for the disclosure of evidence.

News Releases

  • April 10, 2012
    Mount Real and Norshield - Marc-André Froment and Roberto Milzi fined
  • February 25, 2011
    Mount Real and Norshield - Nick Mylonakis, William Marston and René Proteau fined 
  • January 24, 2011
    Paul Messier Jr fined $104,000 
  • December 22, 2010
    Mount Real and Norshield - Fayza Rifai, Jaime Lao Wan Lian, Francesco Iaconno and Nick Mylonakis guilty 
  • November 10, 2010
    Paul Quenneville and René Proteau plead guilty  
  • October 27, 2010
    12th representative fined in Mount Real matter - Larraine Lyttle fined $91,000 
  • October 20, 2010
    Three additional representatives guilty 
  • June 4, 2010
    Guilty verdict for ninth Mount Real representative - Guy Prescott fined $40,500 
  • May 11, 2010
    Three representatives convicted - Yves Tardif, Éric Couture and Laraine Little guilty 
  • March 8, 2010
    Anthony Cappellano guilty 
  • 22 September 2008
    AMF files 682 charges against 5 officers, seeks prison terms and hefty fines 
  • May 5, 2008
    Anthony Cappellano guilty 
  • April 30, 2008
    Enrico Bruni acquitted 
  • April 14, 2008
    Luigi Muro found guilty and ordered to pay $324,000 
  • January 10, 2008
    Christophe Balayer guilty on 10 counts 
  • November 1, 2007
    Victor Lacroix and Armando Ferruci convicted and fined, respectively, $156,000 and $288,000 
  • January 24, 2007
    AMF files 619 charges against 24 individuals 
  • May 16, 2006
    Mount Real Corporation / AMF confirms suspension of two independent representatives and firm 
  • March 24, 2006
    Mount Real Corporation - AMF suspends Carole Dorion 
  • March 9, 2006
    Corporation Mount Real: Nomination d'un administrateur provisoire pour Corporation Media Honeybee et Honeybee Systems America Inc. 
  • February 28, 2006
    Corporation Mount Real - Interdictions prononcées à l'encontre de Laurence Henry 
  • February 23, 2006
    AMF suspends Champoux, Froment et associés 
  • February 14, 2006
    Mount Real Corporation AMF suspends William John Marston 
  • February 14, 2006
    Mount Real Corporation AMF suspends Yves Tardif 
  • January 6, 2006
    New Cease Trading Order In Mount Real Case 
  • December 16, 2005
    Services Financiers iForum Inc. - Cancellation of Registration and Motion for Change of Trustee 
  • November 23, 2005
    Mount Real Corporation : Further freeze order 
  • November 10, 2005
    Mount Real Corporation - Provisional administrator appointed, freeze and cease trading orders issued 

Reports (Available in French only)

Dossier Mount Real Corporation - La Cour autorise l'Autorité des marchés financiers à intervenir – 17 mars 2006

Decisions by the Bureau de décision et de révision (BDR) in the matter of Mount Real (Available in French only)

Décisions à l'égard des représentants

Administration provisoire

Décisions pour Laurence Henry, Investissements Real Vest Ltée, Investsafe Ltd et Mapleridge Ltd

Décisions pour Corporation Mount Real, Gestion MRACS Ltée, Investissements Real Vest Ltée, Corporation Real Assurance Acceptation et Corporation services Media Gopher

Décisions pour Corporation services de gestion Mount Real, Corporation de capital Mount Real, Marché de capitaux Mount Real Ltée, Real Readers inc. et als.

Décisions pour Corporation Mount Real, Gestion MRACS Ltée, Investissements Real Vest Ltd, Corporation Real Assurance Acceptation, Valeurs mobilières Iforum inc., Services financiers Iforum inc., Lino P. Matteo, Laurence Henry, Joseph Pettinicchio, Andris E. Spura, Paul D'Andrea, Lowell Holden, Laraine Lyttle et als.

Divers

Décisions de la Cour du Québec (Chambre criminelle et pénale), de la Cour Supérieure et de la Cour d'appel du Québec (Available in French only)