Antonio Rossi found guilty on 46 counts
Decisions and Freeze and cease trade orders Securities
Montréal – On June 7, 2010, Judge Serge Boisvert of the Court of Québec, district of Montréal, found Antonio (Tony) Rossi guilty on 46 counts of violating the Securities Act related to illegal distributions.
Sixteen individuals invested $5,000 to $195,000 with Mr. Rossi between November 2002 and June 2004. Some of them have since recovered all or part of their investments, but most have not recovered any funds.
Mr. Rossi did not provide investors with any information documents prior to their investing. All investments were made orally, with no written contract.
The AMF reminds consumers that before investing, they should insist on receiving information documents about the proposed investment. These documents should indicate the type of investment, the risks associated with it, whether or not funds can be accessed if necessary and, if so, under what conditions, and the related investment fees and costs. If reliable written information cannot be obtained, it is best not to invest.
Sentencing representations will take place in September 2010.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.
— 30 —
Information:
Media only:
Sylvain Théberge: 514-940-2176
Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337