Decisions and Freeze and cease trade orders

Montréal - The Bureau de décision et de révision (the "Bureau") recently issued a freeze order against Alain Véronneau and orders prohibiting him from trading in securities and from acting as a securities adviser following an ex parte application by the Autorité des marchés financiers (the "AMF").

The AMF's investigation showed that Alain Véronneau solicited 16 investors to induce them to entrust large sums of money to him for investment. He purportedly made misrepresentations about the investments offered and used forged documents to confirm investments which did not exist. He is charged with embezzling over $300,000 of the funds entrusted to him.

Mr. Véronneau was registered in the insurance of persons, group insurance of persons and financial planning sectors. He was also registered as a mutual fund representative.

The Bureau was concerned that, without the orders, Alain Véronneau would continue to solicit Quebeckers, misappropriate money obtained from them and dispose of the items purchased using investors' money.

If you believe that you have been the target of Alain Véronneau's schemes, we encourage you to contact an agent at our Information Centre.

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

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