September 25, 2015 Investor warnings - News

Montréal - The Autorité des marchés financiers (the "AMF") is warning Québec investors about recent on-line ads encouraging them to purchase shares of the company LigneX. AMF verifications revealed that a third party had illegally used the name of the French company LigneX for fraudulent fundraising purposes. This presents a high risk of embezzlement.

As part of its cybersurveillance activities, the AMF uncovered ads urging investors to buy shares of LigneX, which was sometimes presented as a French company specialized in the transformation of plant fibres, and sometimes as an agri-business specialized in cocoa production and cashew exports based in Benin, in West Africa. Blocks of shares were sold in euros or Canadian dollars, and investors were told that they could earn monthly or annual dividends.

The two individuals allegedly involved in these solicitations using the identity of LigneX, Christine Lebon and Myriam Hasni, are not registered with the AMF and do not rely on any exemption which would allow them to solicit investors in Québec.

The AMF wishes to thank the Autorité des marchés financiers of France for conducting its own verifications and for contacting the directors of Établissements LigneX affected by this situation.

Don't become a victim of fraud

Whether on the Internet or in person, offering investments is a regulated activity. The individual or business asking for your money must be registered with the AMF. To make sure you don't become a victim, check the register of firms and individuals authorized to practise.

If you think you have detected or been the target of a scam, do not hesitate to contact the AMF Information Centre. Your information could help the AMF better protect consumers.

Visit the AMF website to learn about other ways to prevent fraud.

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

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Information:

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Sylvain Théberge: 514-940-2176

Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337
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