Montréal - The Autorité des marchés financiers (the "AMF") is launching penal proceedings against Georges Pierre Jr. and Serge St-Martin in the judicial district of Gatineau in connection with various illegal distribution activities involving Investissements Nubia inc., among others.
The AMF intends to prove that Serge St-Martin and in particular Georges Pierre Jr., officers of Investissements Nubia inc., illegally solicited individuals to invest in a proposed acquisition of income properties. Investors lost just over $60,000.
Georges Pierre Jr. is facing 17 charges, including 7 counts of illegal distribution, 6 counts of illegal practice as a dealer and 4 counts of making misrepresentations to investors. If he is found guilty, Mr. Pierre could be fined at least $63,000. Serge St-Martin is facing 3 charges, including one count for illegal distribution, one count for illegal practice as a dealer and one count for making misrepresentations to an investor. Mr. St-Martin could be fined at least $11,000 if he is found guilty.
The AMF took action in March 2014 to stop these two individuals from soliciting investors and to freeze the assets held by Georges Pierre Jr.
Protect yourself against this type of approach
Offering investments on the Internet or in person is a regulated activity. Any person or company offering investments must be registered with the AMF. Before handing over your money, even to someone you trust, you should always check whether the person or company with whom you are considering investing is duly authorized in the register of firms and individuals authorized to practise.
The Autorité des marchés financiers (the "AMF") is the regulatory and oversight body for Québec's financial sector.
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Sylvain Théberge: 514-940-2176
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