Gestion Guychar (Canada) Inc. - Richard Lanthier, Guy Charron, Huguette Gauthier plead guilty on 355 counts

Decisions and Freeze and cease trade orders Securities

Montréal – On December 8, 2010, Richard Lanthier, Guy Charron and Huguette Gauthier pleaded guilty before Judge Juanita Westmoreland-Traoré of the Court of Québec, district of Montréal, on 355 counts brought against them by the Autorité des marchés financiers (AMF) in the matter of Gestion Guychar (Canada) Inc.

More specifically, the AMF charged them with violating the Securities Act by acting illegally as securities dealers, making illegal distributions and aiding Gestion Guychar (Canada) Inc., 3330575 Canada inc., 3965121 Canada inc. and Gestion Pemp with illegal distributions.

Representations were generally made by Guy Charron, president and major shareholder of Gestion Guychar (Canada) Inc. and a former insurance representative and financial planner, or by Richard Lanthier, former mutual fund representative and financial planner. Investors were told that they were investing in an investment vehicle or a loan, but most of them did not know where their money was being invested or have any information about Gestion Guychar (Canada) Inc.

According to the data gathered by the AMF, investors lost more than $10,000,000.

In this same matter, on November 1, 2010, Gérald Turp, who was found guilty of aiding with an illegal distribution, was fined $25,000. Mr. Turp is appealing his guilty verdict and his sentence.

In addition, since February 2007, Richard Lanthier, Guy Charron, Huguette Gauthier, Gérald Turp and the firms Turp DTD Consultants inc., 177889 Canada inc., 3330575 Canada inc. and 3965121 Canada inc. have been ordered to cease any activity in respect of a transaction in securities and to cease activities as securities advisers.

Sentencing representations for Guy Charron, Richard Lanthier and Huguette Gauthier have yet to be set.

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

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