Montréal - The Autorité des marchés financiers (the "AMF") is warning Québec consumers about solicitations made by Simon Vodovos through websites and on-line ads encouraging them to invest in Vilaron Corporation, which purports to be an investment fund manager.
Simon Vodovos claims to be a securities dealer and portfolio manager with various firms. He is listed in the Québec Enterprise Register as, among other functions, CEO of Vilaron Corporation, an independent investment firm. However, neither Vilaron nor Simon Vodovos is registered with the AMF, and they are therefore not authorized to solicit Québec consumers for investment purposes.
To ensure compliance with the law and protect the public, the AMF is asking the Bureau de décision et de révision (the "Bureau") to issue orders to cease the solicitation and close down Vilaron's website and to impose penalties of $15,000 on Simon Vodovos and Vilaron for illegal practice and misrepresentations.
The AMF drew the Bureau's attention to some alarming facts revealed during its investigation into this matter, including:
- The respondent has no academic or other experience in investment funds, yet he is the driving force behind Vilaron Corporation;
- Vilaron prepared a prospectus using false information and actively solicited public participation;
- Simon Vodovos assumed another identity in order to further his objectives;
- Simon Vodovos's name appears in numerous ads encouraging investors to participate in a wide range of business sectors.
Reminder to investors
This solicitation was uncovered through cyber-surveillance conducted by the AMF. If you see such ads or have responded to similar offers, do not hesitate to contact the AMF Information Centre.
The AMF reminds investors to follow five simple steps to help determine if they are the target of fraud. Visit the AMF website to learn more about how to protect yourself against this type of conduct.
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
Québec City: 418-525-0337
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