Securities

Montréal – The Autorité des marchés financiers (AMF) has launched penal proceedings in the Court of Québec (Criminal and Penal Division) against Stevens Demers.

In its suit, the AMF filed 162 charges against Stevens Demers for violating the Securities Act, R.S.Q., c. V-1.1 1 (the “Act”):

  • By assisting United Environmental Energy Corporation and Enviromondial International Vanuatu  inc. with the distribution of the securities of United Environmental Energy Corporation without holding a prospectus approved by the AMF, thereby violating section 11 of the Act (81 charges). With respect to these 81 charges, the AMF is seeking a fine in the amount of $810,000, plus costs. If found guilty, Mr. Demers is liable to a prison term;
  • By assisting United Environmental Energy Corporation and Enviromondial International Vanuatu inc. with the pursuit of activities as a securities dealer without being registered for such purpose with the AMF, thereby violating section  148 of the Act (81 charges). With respect to these 81 charges, the AMF is seeking a fine in the amount of $405,000, plus costs.

In addition to the prison term, the AMF is therefore seeking a total fine in the amount of $1,215,000, plus costs.

Stevens Demers and Enviromondial inc. have been the subject of numerous decisions and orders from the courts.

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

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Information:

Media only:
Frédéric Alberro (514) 940-2176
Financial sector participants: (877) 525-0337, choose option 9 for English, then 1 for industry
Consumers and investors: (877) 525-0337, choose option 9 for English, then 8 for consumers