AMF takes action to stop possible funds misappropriation scheme involving Mario Langlais
Decisions and Freeze and cease trade orders Securities
Montréal - The Autorité des marchés financiers(the AMF) has obtained freeze, cease trade and suspension orders to stop a possible scheme related to misappropriation of funds, distribution without a prospectus and illegal securities adviser activities involving Mario Langlais and his firm, 9183-6643 Québec inc.
The AMF alleges that at the time Mario Langlais was registered as an insurance of persons, group insurance of persons and mutual fund dealing representative, he proposed a real estate investment to clients valued at approximately $200,000. He allegedly used these funds for himself or to pay other potential investors. Mario Langlais and 9183-6643 Québec inc. never filed a prospectus with the AMF and were never issued a prospectus exemption.
On February 22, 2016, at the AMF's request, the Bureau de décision et de révision (the Bureau) issued:
- an order freezing the bank accounts and other assets of Mario Langlais and 9183-6643 Québec inc.;
- an order against Mario Langlais and 9183-6643 Québec inc. prohibiting them from trading in securities and acting as securities advisers;
- an order suspending Mario Langlais' certificate, number 119074.
These orders will prevent the funds, if they were obtained unlawfully, from being dissipated during the investigation and also prevent Mario Langlais from continuing his illegal activities.
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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