Claude Lavigne fined $155,000

Decisions and Freeze and cease trade orders Securities

Montréal – In a decision handed down on January 10, 2007, Judge Jean-Pierre Bonin of the Court of Québec (Criminal and Penal Division) in the district of Montréal found Claude Lavigne guilty on the 33 counts brought against him by the Autorité des marchés financiers (AMF).

Mr. Lavigne faced 33 charges for violating the Securities Act (the “Act”) by:

  • assisting, through an act or omission, Club d’investissement HT, Club d’investissement HT 101, Club d’investissement HT 102, Club d’investissement HT 103, Club d’investissement HT 105 and Club d’investissement HT 106 with the distribution of a form of investment governed by the Act, namely, shares in these Clubs, without a prospectus approved by the Commission des valeurs mobilières du Québec.

Mr. Lavigne, who is a director and president of these entities, was ordered to pay a fine of $155,000, plus costs, for the 31 counts.

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

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