Decisions and Freeze and cease trade orders

Montréal - On January 15, 2015, the Bureau de décision et de révision (the "Bureau") issued orders against Affluential Group Corp. and its two officers, Ali Haidar Tarafdar and Sean Pugliese, namely, to cease trading in securities and pay administrative penalties of $57,000.

The respondents actively sought investors through ads, social media and Affluential's website by offering a high-yield investment contract. They thus distributed a form of investment without an approved prospectus and pursued illegal activities as a dealer. They also made misrepresentations orally and in writing, and used various strategies to entice investors, including false guarantees and use of a virtual office located in downtown Montréal.

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

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