Denis Roy - Superior Court hands down prison term

Decisions and Freeze and cease trade orders Securities

Montréal – At the request of the Autorité des marchés financiers (AMF), Judge Danielle Grenier of Québec Superior Court, district of Montréal, sentenced Denis Roy on May 27, 2009 to a 30-day conditional sentence.

In March 2009, Judge Grenier found Denis Roy guilty of contempt of court. In fall 2006, Denis Roy had violated a permanent injunction, issued in June 1999 ,prohibiting him from distributing securities and acting as a securities dealer or dealer representative.

In her decision, Judge Grenier noted: [Translation] "The respondent's track record is telling. His behaviour shows no respect for people and the Courts. A fine would have no deterrent effect." Judge Grenier therefore handed down a 30-day suspended sentence on Denis Roy. This sentence must be served if Denis Roy further violates the injunction order issued in 1999 within the next two years.

The AMF has appealed Judge Grenier's decision to suspend the sentence.

Denis Roy was found guilty on three occasions for violating the Securities Act. To date, $42,000 of the $63,000 in fines imposed on him has not been paid.

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

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