Montréal - On October 4, 2011, Judge Danielle Michaud of the Court of Québec ordered Frank Mastrocola to pay fines totalling $125,500. He had been found guilty on 25 charges related to illegal activities in the Acamex Capital Corporation matter.
Twelve counts were brought against Frank Mastrocola for acting as a securities dealer without being registered as such with the Autorité des marchés financiers (the AMF), nine counts for aiding Acamex Capital Corporation, Bridge Management and Opus Capital Management with making distributions without a prospectus and four counts for making misrepresentations.
Frank Mastrocola is one of four individuals prosecuted by the AMF in the matter of Acamex Capital Corporation. In October 2009, Roberto Pistilli pleaded guilty to 15 counts and was fined $60,000. Sebastian Mecca, found guilty of 20 violations related to illegal investments in Acamex Capital Corporation and Bridge Management (Barbados) Inc., was fined $112,000 in June 2010. In January 2011, Peter Krauth pleaded guilty to 13 counts and was fined $61,500.
The Autorité des marchés financiers (the AMF) is the regulatory and oversight body for Québec's financial industry.
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