February 7, 2013

Montréal - On February 1, 2013, the Honourable Judge Manon Ouimet of the Court of Québec, district of Montréal, ratified the parties' joint recommendation regarding fines against Guy Charron, Richard Lanthier and Huguette Gauthier.

The judge imposed a fine of $2,808,000 on Guy Charron, $2,240,000 on Richard Lanthier and $100,000 on Huguette Gauthier, representing four times the minimum penalty on each of the charges.

The three accused had pleaded guilty to all 355 charges brought against them for illegally pursuing activities, illegal distributions and aiding with illegal distributions in the matter of Gestion Guychar (Canada) inc.

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

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