Gestion Guychar (Canada) inc. - Gérald Turp found guilty

Decisions and Freeze and cease trade orders Securities

Montréal – On June 29, 2010, Judge Hélène Morin of the Court of Québec, district of Montréal, found Gérald Turp guilty of violating the Securites Act in connection with Gestion Guychar (Canada) inc.

Gérald Turp was found guilty of aiding 3965121 Canada Inc. with an illegal distribution. Sentencing representations for the charges to be laid against Gérald Turp will take place in September 2010.

The trial of Richard Lanthier, Guy Charron and Huguette Gauthier, who are facing a total of 458 charges of illegal practice, illegal distributions and aiding with the illegal distribution in the Guychar matter, will begin in December 2010. The Autorité des marchés financiers (AMF) is seeking prison terms and fines of $8,290,000.

Since February 2007, Richard Lanthier, Guy Charron, Huguette Gauthier, Gérald Turp and Turp DTD Consultants inc. have been subject to freeze orders and prohibited from pursuing activities as securities advisers.

The AMF investigation showed that at least 95 investors have lost a total of $10 million.

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

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