Enviromondial - Nathaly Demers fined $416,000

Securities Decisions and Freeze and cease trade orders

Montréal – Judge Robert Lanctôt of the Court of Québec, district of Longueuil, handed down a sentence on December 1, 2010 in which he imposed fines of $416,000 on Nathaly Demers, who was previously found guilty on 85 offences of aiding with illegal distributions in the matter of Enviromondial.

In handing down the sentence, Judge Lanctôt pointed to the need for an exemplary penalty and the fact that Nathaly Demers had knowingly transgressed orders.

More specifically, the Autorité des marchés financiers (AMF) charged Nathaly Demers, the daughter of former Enviromondial president Stevens Demers, with aiding United Environmental Energy Corporation in making illegal distributions on 85 occasions between February and June 2006.

Nathaly Demers was President and CEO of United Environmental Energy Corporation, a company incorporated in the State of Delaware, which obtained a patent in January 2006 for the technology developed by the École Polytechnique which turns organic waste into electricity. Enviromondial purchased the patent on October 18, 2005 and transferred it, on the same day, to Enviromondial International Vanuatu Inc.

Since May 2006, Nathaly Demers and the firms United Environmental Energy Corporation, Enviromondial and Enviromondial International Vanuatu Inc. have been under cease trade orders issued by the Bureau de décision et de révision en valeurs mobilières.

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

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