Further freeze and cease trade orders in the matter of Gestion Guychar Canada inc., Guy Charron, Richard Lanthier and Huguette Gauthier

Decisions and Freeze and cease trade orders Securities

Montréal – At the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision en valeurs mobilières (BDRVM) issued on April 16, 2007 a freeze order on certain assets of Guy Charron, Huguette Gauthier, Gérald Turp, Turp DTD Consultants inc., Richard Lanthier and 3965121 Canada inc.

As well, the BDRVM ordered Guy Charron not to act as a securities adviser. He did so without being registered as such with the AMF, thereby violating section 148 of the Securities Act, R.S.Q. c. V-1.1. Because of the urgency of the situation, the BDRVM decided it was in the public interest to issue the decision without a prior hearing.

On February 27, 2007, the BDRVM issued, at the request of the AMF, a freeze order on certain assets and a cease trade order in this matter. As well, the BDRVM prohibited Richard Lanthier and Huguette Gauthier from acting as securities advisers.

The AMF took action based on the following allegations:

  • Gestion Guychar Canada inc., its president and major shareholder Guy Charron as well as Richard Lanthier and Huguette Gauthier distributed and/or assisted with the distribution of a form of investment governed by the Securities Act (the “Act”) without holding a prospectus approved by the AMF;
  • Richard Lanthier and Huguette Gauthier acted as securities dealers and advisers without being registered with the AMF for such purpose;
  • Approximately 20 investors purchased term notes and promissory notes for a total of $2.5 million through Richard Lanthier, Huguette Gauthier, Guy Charron and related companies. Other investors made undetermined investments in connection with this matter;
  • Some notes were not redeemed upon maturity.

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

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