Decisions and Freeze and cease trade orders Securities

Montréal – On June 3, 2010, Justice of the Peace Jean-Georges Laliberté of the Court of Québec, district of Laval, imposed fines of $112,000 on Sebastian Mecca, who was found guilty previously on 20 charges of violating the Securities Act in connection with investments in Acamex Capital Corporation and Bridge Management (Barbados) Inc.

Specifically, Sebastian Mecca was found guilty on seven charges of aiding with an illegal distribution, 11 charges of pursuing activities illegally as a securities adviser and two charges of misrepresentation. The fines imposed are double the minimum fines for each charge.

In his decision, Judge Laliberté commented as follows about Sebastian Mecca’s conduct and diligence [Translation]: “Throughout the entire matter of the investments, the defendant set up smoke screens and regularly misled his clients. He impressed them by giving the names of many companies with which they were theoretically doing business. He used pretentious language and cited unsubstantiated estimates. When his clients approached him with questions and concerns, he reassured them and then, out of the blue, told them that the companies in which they had placed their trust and their savings had gone bankrupt or closed down.”

Sebastian Mecca is one of four individuals being sued by the Autorité des marchés financiers in the matter of Acamex Capital Corporation. Frank Mastrocola, Roberto Pistilli and Peter Krauth are facing, respectively, 29, 15 and 13 charges.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.

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