Decisions and Freeze and cease trade orders Securities

Montréal – On June 28, 2010, Judge Jean Sirois of the Court of Québec, district of Terrebonne, handed down a second prison term and new fines totalling $240,000 on Stevens Demers, one of the founders of Enviromondial Inc.

In January 2010, Stevens Demers was found guilty on 64 counts of illegally pursuing activities as a securities dealer and aiding with an illegal distribution. In view of this guilty verdict, Judge Sirois handed down a three-year prison term and imposed fines of $192,000 for aiding Enviromondial Inc. and United Environmental Energy Corp. with illegal distributions on 32 occasions between February 2003 and May 2005. The judge also fined him $48,000 for illegally pursuing activities as a securities dealer on 32 occasions during the same period.

Stevens Demers was found guilty in September 2008 of 346 offences under the Securities Act and is currently serving a 30-month prison term. Judge Sirois ordered that the new three-year sentence be served concurrently with the first sentence and that the $240,000 fine be added to the $1,297,000 of previously imposed fines.

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

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