Digital World Financial - Christian Viau and Michael J. Moore fined
Decisions and Freeze and cease trade orders Securities
Montréal – Two decisions were recently handed down against Christian Viau and Michael J. Moore, against whom legal proceedings had been launched for violating the Securities Act in relation to the operations of Digital World Financial Inc.
Christian Viau fined $1,000
On May 4, 2010, Judge Jean-Pierre Boyer of the Court of Québec, district of Montréal, fined Christian Viau $1,000. Christian Viau was found guilty of illegally acting as a securities dealer without being registered. Mr. Viau referred one of his clients to Digital World Financial Inc., whereas none of the investments proposed by this company were covered by a prospectus.
Michael J. Moore fined a total of $6,000
Earlier in the year, Michael J. Moore pleaded guilty to two violations of illegal practice as a securities dealer and aiding in the illegal distribution of a debt security of Digital World Financial Inc. He was fined a total of $6,000.
In September 2008, the Autorité des marchés financiers (AMF) launched six legal proceedings in the matter of Digital World Financial Inc., in which it filed 89 charges and sought total fines of $1,200,000. The trial of Joseph Simon Lacroix, which includes 77 of these charges, will take place from September 15 to 17, 2010. The AMF intends to ask the Court to impose total fines of $1,155,000.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.
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