Already subject to penal proceedings and a legal order - AMF sues Daniel Poulin for a second time
Securities
Montréal - The Autorité des marchés financiers (the AMF) has launched a further penal proceeding in the judicial district of Frontenac against Daniel PoulinThe respondent Daniel Poulin should not be confused with independent insurance of persons representative Daniel Poulin of Sherbrooke, who holds certificate 127630, or with financial planner and mutual fund dealer Daniel Poulin, who holds certificate 1638551. and his company Eco6 in connection with illegal distributions. The AMF is seeking a total of $244,000 in fines from them as well as a prison term.
Daniel Poulin was the subject of a penal proceeding launched by the AMF in the fall of 2011 which included 51 charges for offences relating to illegal distributions by Eco6, of which he is the President. Daniel Poulin and his company Eco6 are also the subject of a cease trade and freeze order issued by the Bureau de décision et de révision (the "Bureau") in January 2012.
This time, the AMF is claiming that Daniel Poulin illegally acted as a dealer (four counts), aided his company Eco6, which filed a notice of intention to file a bankruptcy proposal in 2009, with making illegal distributions (two counts) and made illegal distributions (two counts). The AMF is seeking a prison term as well as a $164,000 fine.
Eco6 is also charged with two counts for making illegal distributions and the AMF is seeking an $80,000 fine in this regard.
The fines the AMF is seeking in this matter represent four times the minimum amount set by law, in particular because of Mr. Poulin's repeated wrongdoing and the size of the amounts involved. The AMF's investigation shows that four investors invested $160,000 with Daniel Poulin in January 2012.
Reminder to investors
In its most recent awareness campaign, 5bonnesquestions.ca, the AMF reminds consumers that it is important to check whether the person offering them an investment product is authorized to do so by consulting the Register of firms and individuals authorized to practise on the AMF's website.
The Autorité des marchés financiers (the AMF) is the regulatory and oversight body for Québec's financial sector.
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